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The state can pay compensation for 1,050 workers who will lose their jobs and inject an extra NIS 500 million into the corporate.
The Israel Postal Co. board of administrators has accredited the corporate’s restoration plan, which requires the federal government to inject NIS 1.7 billion into the ailing firm, forward of its deliberate privatization.
Underneath the plan fashioned by Israel Postal Co. along with the Ministry of Finance Funds Division and Ministry of Communications, 1,050 workers can be laid off with the state bearing the price of the NIS 1.1 million common per worker. Earlier than privatization is accomplished, the corporate might want to lay off a number of hundred extra workers.
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Over 1,500 layoffs anticipated as Israel Postal losses mount
On the identical time, the state will inject NIS 500 million into Postal Co. as a part of a restoration program. In alternate the Postal Co. will switch to the state dozens of properties which it’s going to promote though no correct appraisal of their worth has but been made however total the belongings are believed to be price greater than NIS 500 million.
Printed by Globes, Israel enterprise information – en.globes.co.il – on June 2, 2022.
© Copyright of Globes Writer Itonut (1983) Ltd., 2022.
Israel Postal Co. Credit score: Eyal Fisher
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