Telecom gear firm Parallel Wireless lays off 500 staffers

NEW DELHI: Telecom gear provider Parallel Wireless has laid off at least 500 employees in India, Israel, the UK and the US. Parallel Wireless last had at least 860 employees. Indian tech consultant RIU Global Services posted on LinkedIn “While this is disappointing news for these 500, others still sitting snug should realise they could be next. In such times, no one’s job is secure in the world’s true sense.”

”We at RIU Global would like to offer our support, whether it is in terms of investment, resources, platform, or infra to any such individual who would like to start something of their own in this space.” Steve Papa, CEO-founder of Parallel Wireless, said “we are making adjustments to prudently right-size given the realities of global economic conditions.”