Palestinian engineers working for Israeli chip designer Mellanox Technologies ar...
RAWABI, West Bank/TEL AVIV - Palestinian engineers working for Israeli chip designer Mellanox Technologies are poised to share a $3.5 million payout when the company’s takeover by U.S. chip supplier Nvidia Corp is completed.
The chip maker offered stock options to more than 100 Palestinian engineers in the occupied West Bank and Gaza Strip when it hired them as contractors, even though they are not permanent staff, as a shortage of engineers in Israel makes their skills highly sought after by multinationals. “Thirty, forty thousand dollars for an employee in the West Bank or in Gaza is a lot of money,” Waldman added, noting that unemployment there hovers at around 40 percent.
“ saw value, they saw loyalty in the relationship,” Tahboub said in his office in a bustling high-tech centre in Rawabi, the first Palestinian planned city in the West Bank. “The Israeli market provides an opportunity for the whole Palestinian high-tech sector.” Still, Tahboub said Israeli restrictions - particularly curbs on the movement of goods and people in and out of the West Bank and Gaza - deter multinationals from investing in or outsourcing from the Palestinian territories.
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