Strike ends at Elbit Systems unit Elop

Elbit color display helmet

Employees have won pay rises and a one-time bonus.

Work resumed today at Elbit Systems Ltd. (Nasdaq: ESLT; TASE: ESLT) subsidiary Elop, following a three-day strike. Following negotiations yesterday between Histadrut (General Federation of Labor in Israel) representatives, the workers' committee, and Elop management, it was agreed that work at the plant in the Rehovot Science Park would resume immediately, and the plant's 1,300 workers would receive pay increments and a one-time bonus.

Negotiations between the parties continued into the night. Under the agreement reached, the salary increment will be also paid retroactively for 2014 and 2015. In recent months, company employees have complained that management was not negotiating a pay revision, despite past agreements signed between the parties.

The agreements halted the strike at Elop, which develops and manufactures electro-optical systems for domestic and overseas defense markets, and led to the cancellation of a number of protests in solidarity with Elop workers planned by the Histadrut for today in all of Elbit Systems' plants throughout Israel.

The Histadrut today said that in addition to the agreements on salary revisions, the parties would conduct intensive negotiations aimed at regularizing how workers are employed at the company. This agreement follows allegations that workers were being moved to other tasks in Elbit Systems in order to weaken organized labor at Elop.

Histadrut Metal, Electrical, and Electronics Workers Union chairman Gabi Asraf said, "The new agreements reflect the importance of changing the form of employment at Elop, so that as many workers as possible can be unionized and guaranteed employment security, as well as better payments terms and a special bonus for the workers, which they deserve in reward for their loyal work."

Published by Globes [online], Israel business news - www.globes-online.com - on February 4, 2016

© Copyright of Globes Publisher Itonut (1983) Ltd. 2016

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