![Around 100 IMI employees are being laid off every month, with the target of reducing worker numbers by 600 by the end of the year Israel Military Industries](https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhNSpo0jihal4zHGm2QHPJO3iSPrPqWw1DPNqx4vUjKrNmJ1kuNFMwzxKT49xmkg76LJ6WBOwyKKz_J4wRKrx1qVWPQYV35yn8uZJ9YmPnvhvHjoYefZCHKKZMGGmOhbp0xX5aw/s560/IMI-Logo.png)
Ori Yogev, the director of the Government Companies Authority, said the government had approached a handful of international investment banks, among them Merrill Lynch, BNP Paribas, Citibank and UBS, about managing the sale, which is slated to occur next year.
“After many long years, we are taking a significant step today in selling IMI as a company investors will find attractive and which will operate, after its sale, as a defense company in a competitive marker” Yogev said in a meeting with IMI executives last week.
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