New Bank Leumi (TASE: LUMI) workers committee chairwoman Miri Rubino is warning Minister of Finance Yuval Steinitz not to harm workers' rights, and that the workers committee will take all necessary measures to safeguard them.
"If anyone tries to undertake measures that will serve some tycoon at the workers' expense, we'll know how do deal with it - not in words, but in deeds," Rubino said.
Rubino told "Globes", "From now on, everything will depend on the Ministry of Finance, and how it leads the process. The workers are worried and anxious, and that's why we'll do everything in our power to ensure the workers' standing and rights. How high will the flames go? It all depends on the finance minister."
Earlier this week, Steinitz announced that the Ministry of Finance will sell the government's shares in Bank Leumi on the Tel Aviv Stock Exchange (TASE), which can result in the bank having no controlling core, or a controlling core developed by the capital market, according to the so-called Marani amendment.
Bank Leumi's multiyear labor contract is due to expire in December 2010. Rubino said, "By 2010, we'll seek to renew the contract, and keep the 5% annual pay hike for all employees."
Rubino was elected chairwoman of Bank Leumi's national workers committee earlier this week, replacing Louis Roth. She has worked at the bank for 35 years, and served on the workers committee for 25.
Published by Globes [online], Israel business news - www.globes-online.com - on September 24, 2009
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