The Bezeq workers committee has been holding talks with management for the past two days.
Sources inform “Globes” that implementing the Shaldor committee’s recommendations for Bezeq (TASE: BZEQ) will lead to an estimated 500 lay-offs at the company. The Bezeq workers committee has been holding talks with management on the Shaldor restructuring recommendations for the past two days.
The talks will continue for at least several more days, but it is already clear that the recommendations involve voluntary retirement, under terms agreed to by both sides. The Shaldor recommendations, commissioned by Bezeq in September 2003, deal with the company’s business strategy, including all Bezeq’s subsidiaries. In the light of the recommendations, Bezeq seeks to set up a business division.
The report by McKinsey and Co., which preceded the Shaldor committee, recommended increasing the number of retirees at Bezeq to 1,770, as previously agreed with the state. Bezeq wants to focus on the business sector, since competition in this field is expected to intensify in the near future, when the inland communications market is opened up to competition.
Published by Globes [online] - www.globes.co.il - on February 5, 2004