CSTE Caesarstone Ltd

SECURITIES AND EXCHANGE COMMISSION

 

Washington, D.C.  20549

______________________

 

FORM 6-K

 

REPORT OF FOREIGN PRIVATE ISSUER

 

Pursuant to Rule 13a-16 or 15d-16 of the

Securities Exchange Act of 1934

 

For the month of December 2022

 

Commission File Number: 001-35464

 

(Translation of registrant’s name into English)

 

Kibbutz Sdot Yam

MP Menashe

Israel 3780400

 (Address of principal executive offices)

 

Indicate by check mark whether the registrant files or will file annual reports under cover Form 20-F or Form 40-F.

 

Form 20-F ☒      Form 40-F ☐

 

 Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1):   __

 

 Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7):   __

EXPLANATORY NOTE

 

On December 24, 2022, in response to press inquiries in Israel, the Company confirmed, that as a global operating company affected by global market conditions and fluctuations, it is taking steps to adjust its operations to address the ongoing slowdown in demand for kitchen countertops among private consumers as well as commercial projects around the world. The Company has implemented a plan to improve its efficiency. This consists of several actions, including a completed reduction of approximately 10% its global head-count, a portion of that in Israel, with the majority of the reduction spread across our facilities around the world. In addition, Company is taking other steps to improve its operational efficiency, including increase prices, focus on growth and others. Company to stressed that Caesarstone® is a strong globally recognized brand with high trust by consumers and business partners, which it believes will in better addressing the coming period.