Check Point Software CEO sees no layoffs

TEL AVIV, Oct 28 (Reuters) - Check Point Software Technologies (CHKP.O) does not expect to lay off any workers despite a worsening global economy which is affecting many of its clients, Chief Executive Gil Shwed said on Tuesday.

Shwed told a news conference that it was hard to predict how the global economic crisis would affect Israel's Check Point, one of the world's largest Internet and network security companies, over the long term.

"We see projects being cancelled but we also see projects being initiated. Clients are buying. It's not that the world has stopped but they are cutting costs," he said after Check Point reported third-quarter results that beat estimates.

Security was a sector that companies were continuing to invest in, he added.

(Reporting by Tova Cohen, Editing by Steven Scheer and Quentin Bryar)