Mizrahi-Tefahot employees to continue striking

Management: Over 95% of our active branches were open today.

The workers' committee at Mizrahi Tefahot Bank (TASE:MZTF) plans to continue its strike tomorrow. The committee announced, "At the end of a turbulent day, during which 100 workers demonstrated in front of management's offices in Ramat Gan, committee chairman Daniel Cohen announced that the strike would continue." Tomorrow will be the fifth day of sanctions by the workers' committee.

Mizrahi-Tefahot's management says that the committee's disruptions have not completely shut down the bank's activity. The bank announced today, "Over 95% of the active branches were open on Sunday, and are providing services. The number of workers returning to regular work continues to rise."

The bank said that its district managers had decided that only a new particularly small branches would not open, and the managers of those branches were working to provide service at other branches.

The labor dispute at Mizrahi-Tefahot began after negotiations for a wage agreement broke down. Among other things, management is demanding that the workers' committee promise not to disrupt work, while the workers' committee is refusing to make such a commitment, especially after learning last week that the bank is in negotiations for merging Union Bank of Israel (TASE: UNON) into it.

Published by Globes [online], Israel Business News - www.globes-online.com - on August 6, 2017

© Copyright of Globes Publisher Itonut (1983) Ltd. 2017

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