Tel Aviv stock market in action Sunday as usual
צילום: איי פי
Court halts bank strike
National labor court issues a warrant preventing Israeli bank workers from striking. Workers are complying. Another court hearing scheduled for Wednesday
TEL AVIV - A strike by bank workers that would have paralyzed the country's financial entities and frozen funds at cash machines was canceled at the last minute, after the national Labor Court decided to forbid workers from striking and to send the parties back to the negotiation table.
As a result, banks, the Tel Aviv Stock Exchange and the Bank of Israel have been open for business on Sunday.
However, the court decided to hold another hearing on Wednesday, and instructed Finance Ministry Director-General Yossi Bachar and Supervisor of Capital Markets, Insurance, and Savings Eyal Ben Shlush to attend.
Workers’ representatives and representatives of bank union are set to participate in the hearing as well.
The workers are seeking to retain their jobs and their rights before the government carries out capital market reforms.
The reforms are set to include savings accounts guarantees, and that trust and retirement funds are separated from banks. Workers fear many of them may lose their jobs in the process.
