Check Point co-founder and Cyto Networks founder-chairman Shlomo Kramer said at a Globes conference that the strengthening shekel is making Israeli engineers the most expensive in the world. He added that the company is recruiting more in Prague and London, and said it will 'recalculate its route' on hiring in Israel next year.
At a Globes business conference in Tel Aviv this morning, Shlomo Kramer — co-founder of Check Point Software Technologies and founder-chairman of Cyto Networks — warned that the strong shekel is eroding Israel's cost advantage in high-tech. He noted that the company is increasingly hiring engineers in Prague and London, and signaled an impending shift: a 'recalculation' of hiring plans in Israel for the coming year. The remarks come amid a sustained shekel rally driven by defense-sector exports and foreign investment, which has made Israeli R&D costs among the highest globally. No further details from the closed session have been released.
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Source and signal
- Internal intake