Israel Post threatens layoffs
Israel Post accuses the communications minister of not implementing agreements guaranteeing the company's financial standing.
Shay Niv 11 May 08 16:00
Israel Post Company Ltd. is threatening to lay off 150 employees immediately and cancel the planned hiring of 700 contract employees as regular employees because of a dispute with Minister of Communications Ariel Atias. The company is also threatening to cut executive salaries by 10% and reduce the marketing budget because the company lost NIS 90 million in 2007, more than double the projected loss.
Israel Post claims that Atias still has not moved forward on agreements between the company, Histadrut (General Federation of Labor in Israel) and Ministries of Communications and Finance regarding the promises to guarantee the company's financial standing. The agreements were reached a year ago when the parcels market was opened to full competition.
Shay Niv 11 May 08 16:00
Israel Post Company Ltd. is threatening to lay off 150 employees immediately and cancel the planned hiring of 700 contract employees as regular employees because of a dispute with Minister of Communications Ariel Atias. The company is also threatening to cut executive salaries by 10% and reduce the marketing budget because the company lost NIS 90 million in 2007, more than double the projected loss.
Israel Post claims that Atias still has not moved forward on agreements between the company, Histadrut (General Federation of Labor in Israel) and Ministries of Communications and Finance regarding the promises to guarantee the company's financial standing. The agreements were reached a year ago when the parcels market was opened to full competition.
Labels: Israel, Israel Post Company Ltd, layoffs
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