13:33
Reported

News Briefs

  Kislev 19, 5778 , 07/12/17

New strike at Bank Igud

Bank Igud (Union Bank) employees started a strike Thursday afternoon, following reports that bank chairman Zeev Abeles met with Economy and Industry Minister Eli Cohen and Finance Ministry Director-General Shai Babad. The employees have recently engaged in sanctions related to Igud's merger with Mizrachi Bank and fears that 1,200 employees will lose their jobs.

Responding to management's claim the merger was necessary because Igud was not competitive on its own, the bank's workers' committees said, "It can't be that the chairman of the bank does not believe in the bank he heads. It is the job of the chairman of the bank to ensure the bank's survival and prosperity, and we thought that's what he has been doing all the years of his long tenure. Now we find that his decisions as head of the system over the years have brought the bank to its present state. If that is the opinion of the chairman, he should have resigned many years ago, and probably the bank would be in a better place today."

Other archived news briefs:Dec 07, 01:33 PM, 12/7/2017