Union Bank workers strike in protest against merger decision

Union Bank workers' demonstration

"We will not stand aside while our livelihoods are about to be cut off."

Following today's decision by the Competition Court to overturn the Competition Authority's decision and allow the merger between Mizrahi Tefahot Bank (TASE:MZTF) and Union Bank of Israel (TASE: UNON), the Union Bank workers committee has called an immediate strike.

The committee said in statement: "This wretched decision will hurt hundreds of families of Union Bank employees, cause a diminution in competition, and harm bank customers. We will not stand aside while our livelihoods are about to be cut off, therefore, as a first step, all the bank's employees are asked to stop work, leave their offices and go home now, and tomorrow the bank will be shut."

Union Bank's employees will return to work on Sunday because a meeting has been arranged with the bank's management, after which the workers committee will decide on its next steps.

Published by Globes, Israel business news - en.globes.co.il - on November 28, 2019

© Copyright of Globes Publisher Itonut (1983) Ltd. 2019

Union Bank workers' demonstration
Union Bank workers' demonstration
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