Clalit Health Fund executives take pay cut

The pay cut comes against Clalit's intention to lay off 3,000 employees.

Sources inform ''Globes'' that executives at Clalit Health Fund, including its general manager, VPs, department heads, hospital directors, and managers of subsidiaries have agreed to a 5% cut in their salaries. The pay cut comes against Clalit's intention to lay off 3,000 employees, which has been put on hold while negotiations between management and the workers committee continue.

The pay cut is small compared with executive pay cuts in the private sector. Executive salaries at Clalit, especially for its non-medical staff, are lower than salaries for their peers at other health funds.

The sources added other Clalit employees with personal contracts will also be compelled to forego their annual pay hike linked to the Consumer Price Index (CPI), which rose by 3.8% in 2008.

Published by Globes [online], Israel business news - www.globes-online.com - on April 19, 2009

© Copyright of Globes Publisher Itonut (1983) Ltd. 2009

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