News Brief

(IsraelNN.com) Attempting to offset mounting losses, Zim Integrated Shipping Services is continuing cutbacks in its workforce. According to Globes, Zim and the Histadrut (General Federation of Labor in Israel) signed an agreement this week on the early retirement of 23 senior veteran workers -  captains, head mechanics, and other ship officers - aged 60 and older who have been at the company for at least 15 years.

In March, Zim reached a similar agreement on 70 workers. The current agreement provides retirees with a grant of NIS 10-30,000 following one full year of retirement. Other cuts including freezing the linkage of salaries to the CPI, cutting holiday presents, and cutting vacations.