Jewish Agency struggles to make ends meet - Israel Business, Ynetnews
 
ynetnews
web


   Israel News

Israel News
World News
Israel Opinion
Jewish
Israel Business
Israel Culture
Israel Travel
In the Red

Jewish Agency offices Jerusalem
Jewish Agency offices Jerusalem 
 
 

Jewish Agency struggles to make ends meet

Management sends employees on mandatory leave after weak dollar, financial crisis lead to major fall in donations from US

Tani Goldstein
Published: 06.13.11, 08:30 / Israel Business

A major decrease in donations from the US – due to the financial crisis and the dollar devaluation – caused the Jewish Agency to take drastic measures Sunday.

 

The Jewish Agency's management, together with the employees committee, have decided to send all the employees out on mandatory leave for two weeks in August. Four days will be at the expense of the employees' vacation days and six days will be taken without pay.

 

 

The Jewish Agency, a private association that doesn't receive funding from the state budget – subsists on donations from 300,000 private contributors, mostly Jews from the US and Europe.

Summing Up
Jewish Agency: Raid led to global anti-Semitism / Yael Branovsky
Report on 2010 says France top site for anti-Jewish violence, adds Islamic groups adopting Nazism
Full Story

 

In order to finance the planned mandatory leave the agency will be taking cuts from each employee's monthly salary – one day a month for six months.

 

Moreover, the employees' committee has decided to donate $500,000 of its budget to the Jewish Agency. "The agency's financial difficulties are being solved at our expense," said one of the Agency's employees.

 

Sources involved with the inner workings of the Jewish Agency claimed that the cuts were a committee decision that came following management demands to dismiss 50 employees.

 

The cuts prevented the lay offs. It was claimed that these steps were all taken in order to prevent the Agency from reaching a deficit – beyond the one agreed upon with banks, suppliers and the Agency directorship which forbids it from incurring a deficit. The other option which was considered unacceptable was to cut back on Agency activities.

 

The Jewish Agency management released a statement in which they said: "Many not-for-profit organizations in Israel are collapsing due to the weak dollar which has decreased the extent of contributions. The fact that we work with the poor sectors of society means that we can't make cuts in our activities…

 

"The Agency was forced to choose between lay offs and no lay offs and chose, together with the employees' committee who are also on board, not to lay off employees. We expect an increase in income over the next few years."

 

 

commentcomment   PrintPrint  Send to friendSend to friend   
Tag with Del.icio.us Bookmark to del.icio.us



 
21 Talkbacks for this article    See all talkbacks
Please wait for the talkbacks to load

 

RSS RSS | About | Contact Us | Privacy Policy | Terms of use | Advertise with us | Site Map

Site developed by  YIT Advanced Technology Solutions

 
פיקוד העורף התרעה במרחב:
    למציאת מרחב ההתגוננות האישי שלכם »
    פיקוד העורף מזכיר: יש לחכות 10 דקות במרחב המוגן לפני שיוצאים החוצה
    רשימת יישובים במרחב