Employees at the armored car and firefighting vehicle maker Hatehof Ltd. (TASE:THF) today locked the gates of the company's factory in Nazareth to protest against the non-payment of salaries for six weeks. The company has also stopped employer contributions to employee pensions.
Under pressure from the Histadrut (General Federation of Labor in Israel), Hatehof made an advance payment of NIS 2,000 per employee, but the employees say that they will not unlock the gates until they are paid in full.
"Non-payment of salaries and benefits to employees is a signal that the factory is about to close," said Histadrut Northern Valley District chairman Leon Peretz. "Closing the factory would be a severe blow to the 100 workers, all of whom are local residents who will find it hard to find alternative jobs."
Hatehof's share price rose 5.7% today to NIS 0.59.
Published by Globes [online], Israel business news - www.globes-online.com - on December 23, 2010
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