End of BOI wage dispute in sight

The bank had originally requested the special "government-director" salaries for 100 "second-generation" workers, or those who will begin working at the bank in the next few years.

July 3, 2007 08:32
1 minute read.


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In an effort to end the protracted wage dispute between the Bank of Israel and Wage Supervisor Eli Cohen, Prime Minister and acting Finance Minister Ehud Olmert sent a letter to the Governor of the Bank of Israel, Stanley Fischer, late Sunday night, informing him that the Central Bank can award monthly salaries of NIS 32,000 to 68 future employees in senior positions. The bank had originally requested the special "government-director" salaries for 100 "second-generation" workers, or those who will begin working at the bank in the next few years. But in its official response, the bank accepted Olmert's decision and hoped that his decision would help bring an end to the wage dispute and allow the bank to sign a new wage agreement. Regarding those employees who currently work for the Central Bank, (first-generation workers) the bank said in its response that "it [hoped] to finalize the remaining unresolved issues and wants to close the long dispute in an effort to allow the Bank of Israel to focus on professional services for the good of the entire economy." When informed of Olmert's decision, Cohen, who has been negotiating with the Central Bank for the last several months, approved of the conditions stipulated. He said, however, that it would still take negotiating on both sides, and added that once an agreement was reached, it could go to the new finance minister, Roni Bar-On, for final approval.

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