"Yediot Ahronot" reported today that Arcadi Gaydamak stopped funding the Jerusalem hospital.
Daily newspaper "Yediot Ahronot" reported today that Arcadi Gaydamak has stopped funding Jerusalem's Bikur Holim hospital, and the institution is in danger of closing.
The paper said the hospital will fire the hundreds of workers it employs if it closes. The hospital's management has proposed a plan that includes some layoffs, as well as salary cuts of 15%. However, the Histadrut (General Federation of Labor in Israel) has opposed the plan because it includes layoffs.
Gaydamak has been seeking to sell many of his Israeli assets, including the hospital. A potential buyer for Bikur Holim hospital is the Meuhedet Health Fund.
Published by Globes [online], Israel business news - www.globes-online.com - on March 10, 2009
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