As the confrontation between Israel and Hamas grows, businesses are taking a backseat approach and are planning major operations from other countries.
Israel is burning in the aftermath of the Hamas attack, and so is Palestine due to the counterattacks of Israeli military forces. But amid these raging frontal war situations, lives, necessities, and careers are disrupted. More than 500 global IT companies plan to move their operations to other countries to keep their businesses running. As it seems, one of the most preferred choices is India, followed by Middle Eastern countries and Eastern Europe.
Microsoft, Google, Intel, and others are the major players with critical operational dependencies in Israel office branches. The companies are on the last edge of making the final call. If the war situation keeps intensifying, they will plan a quick shift to India. This decision will impact the employment aspect of many white-collar jobs in Israel, which usually rank on top regarding resource skills, capabilities, and retention rates. These companies employ over 100,000 people in Israel.
One of the main reasons behind choosing India as the top preference is the existing operation facilities, similar timezones, and one of the cheapest infrastructural support in the world. Indian companies like TCS and Wipro also have their operations in Israel. Though shifting to India will require a huge loss to be incurred, it is almost inevitable for all businesses looking to survive these tough times.
An Intel spokesperson revealed that the company is closely monitoring the situation and is ready to take quick steps to safeguard its employees and the business. Intel’s shares fell 0.5% on Monday. This drop occurred after Hamas militants surprise attacked and killed hundreds of Israelis while abducting many others. Many other companies that halted their operations in Israel due to the war have experienced a visible drop in their share values and volumes.
According to the latest reports, 2300 people have succumbed to the war from both ends. Thousands have been displaced, hundreds kidnapped, and many found dead on the streets daily. The situation is now receiving international support from friendly countries, and we can expect a cooldown soon. But the Israeli military’s full-scale attack plan on the Gaza strip can reduce these chances dramatically.
