Israel Electric Corporation (IEC) (TASE: ELEC.B22) employees today launched labor sanctions to protest the implementation of the Compass restructuring plan by CEO Amos Lasker. The IEC workers committee ordered all work on emergency plan including construction of power stations, to be stopped forthwith. It also stopped the collection of bills, and all hook-ups and disconnections.
The workers committee also ordered a halt to renovations at some power plants as well as the hooking up of the Hagit Power Plant in Yokne'am to the natural gas pipeline. This action alone will cost IEC millions of shekels. The workers committee also stopped the distribution of mail and cut off the computers of anyone working on the Compass plan.
The workers committee intends to intensify the labor sanctions in the coming days, and will hold protests outside Lasker's home. It ordered hundreds of employees to leave IEC's offices and not to cooperate with management.
The labor sanctions are not expected to cause disruptions in the power supply at this time.
IEC national workers committee chairman Miko Zarfati reiterated his call to employees not to cooperate with the IEC streamlining plan. "Don’t cooperate on any measure related to the implementation of the Compass plan," he ordered.
Published by Globes [online], Israel business news - www.globes-online.com - on March 12, 2009
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