The order was in response to sanctions by bank employees, who are demanding equal conditions with employees of First International Bank.
Bank Otsar Hahayal, a subsidiary of Zadik Bino-controlled First International Bank of Israel (TASE: FTIN1;FTIN5), yesterday ordered employees to take tend days unpaid vacation, starting Sunday. The order was in response to sanctions by bank employees, who are demanding equal conditions with employees of First International Bank.
Bank Otsar Hahayal's workers committee today consulted with their lawyers, and decided not to take the vacation. The reasoning is apparently based on the fact that the labor dispute is legitimate, and a forced unpaid vacation is a sanction that will not hold up in labor court.
A week ago, Bank Otsar Hahayal employees held a demonstration at the offices of the bank's management, and distributed charity boxes for "donations" for Zadik Bino, whom the employees claim apparently needs money, as he is squeezing the employees.
Published by Globes [online], Israel business news - www.globes-online.com - on June 30, 2010
© Copyright of Globes Publisher Itonut (1983) Ltd. 2010