Business & Economics

Union Bank workers strike in protest against merger decision

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


Article source: https://www.globes.co.il/en/article-1001309054

Loading...

Related posts

Netanyahu could have prevented a submarine event by collecting Germany’s $19b Holocaust debt

Times of News

Investment bank Stifel opens Israeli branch

Times of News

What was a financial apportion of one of a world’s moneyed countries looking for in Israel?

Times of News