BOI to save NIS 20m. on retirees

The Bank of Israel clarified Monday that no lay-offs were expected in the context of organizational changes and a labor conflict with its workers, denying a report to the contrary in the Hebrew press.

By DANIEL KENNEMER
October 24, 2006 09:05

 
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The Bank of Israel clarified Monday that no lay-offs were expected in the context of organizational changes and a labor conflict with its workers, denying a report to the contrary in the Hebrew press. Rather, the central bank said between 80 and 100 workers were expected to leave their posts at the bank voluntarily once a new wage agreement is signed, saving about NIS 20 million annually. The Histadrut declared a labor conflict Sunday, citing "foot-dragging" in the talks and accusing the bank of unilaterally deciding to implement a reorganization plan that would affect workers' rights, wages and employment conditions. If no wage agreement is signed by November 12, Bank of Israel workers may begin striking the next day, the Histadrut said.

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