Leumi workers agree to quiet on privatization

The special agreement extends conditions agreed on in an existing deal.

Bank Leumi (TASE: LUMI) said today that it signed a deal last night with representatives of its employees.

The special collective agreement regarding workers' rights extends the conditions agreed on in an existing agreement signed in 2005. The current deal extends those conditions for four years, until the end of 2014.

In return, and in continuation of the previous agreement, Bank Leumi workers agreed to "industrial quiet", or no strikes, with regard to the bank's privatization process.

Published by Globes [online], Israel business news - www.globes-online.com - on November 18, 2010

© Copyright of Globes Publisher Itonut (1983) Ltd. 2010

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