Discount widens retirement allocation

Bank Discount said Tuesday its board of directors has increased its allocation in expense for the Bank's voluntary retirement program to NIS 200 million.

By AVI KRAWITZ
February 8, 2006 07:27

Bank Discount said Tuesday its board of directors has increased its allocation in expense for the Bank's voluntary retirement program to NIS 200 million. Discount said the decision was made in light of the strong response it received from its headquarters-based workers to a proposal for voluntary retirement presented approximately one month ago. The bank said the proposal was also expanded to include branch workers aged 50 and over who have been employees for over 20 years. The expense will be allocated to Discount's 2005 earnings.


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