Israel Postal Company and its workers will negotiate a recovery plan over the next 60 days.
After a two-day strike, a return to work at Israel Postal Company Ltd. was negotiated on Thursday evening. Post offices reopened and distribution of mail resumed on Friday. Israel Postal Company workers and management will enter into a 60-day period of talks on a plan to save the company.
Under the terms for ending the strike agreed on Thursday, postal workers will have overtime payments restored, and will lend 5% of their wages to the company.
Ministry of Finance Director of Budgets Amir Levi said on Thursday, "We have sixty days in which to negotiate and to enable the company to carry out the required changes in a rapidly changing business."
Published by Globes [online], Israel business news - www.globes-online.com - on May 4, 2014
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