Could Flex lay off in Israel?

"Within a month, electronics components maker Flextronics is likely dismiss about 600 of its production workers at its plant in Ofakim", local media reports. The latest order from ECI - for which the main part of the production at the facility is intended - to Flextronics is for production of electronics components worth around USD 85 million, the Globes reports. However, Flextronics seems to have been unable to obtain credit insurance of USD 50 million out of concern that the risk is high.