BREAKING NEWS

Katz restructures trains after negotiations fail

By JPOST.COM STAFF

MARCH 5, 2012 20:54

Following the failure of negotiations with Israel Railways committee workers, Transportation Minister Yisrael Katz announced Monday the creation of three new subsidiary companies to the company - cargo, maintainance and real estate - which will divide the work between them.

Israel Railways will retain 51% of ownership, while the remainder will be held privately.

"If the workers decide to strike this time as well, I will instruct the closure and recreation of the company so that there will not be a situation of a small minority holding the wider public hostage," Katz said.

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