Israel’s Postal Company will end a three-day strike Friday morning without an agreement, after the cash-strapped government-owned company agreed to enter a 60-day period of intense negotiations.

The labor dispute centered over a reform plan that would lay off 2,000 workers.

Thursday nights agreement also stipulated that Postal Company employees would “loan” the company 5% of their salaries to keep it afloat during negotiations.

It would also restore overtime hours.

The Postal Company had argued that year-on-year use of its service required massive cuts, a prospect which riled the Histadrut Labor federation.

The Histadrut will play an active role in the negotiations, alongside the Finance Ministry and Communications Ministry.

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