July 11, 2019 / 10:25 AM / 5 days ago

Israel's Bezeq Telecom to reduce workforce at ISP subsidiary

JERUSALEM (Reuters) - Israel’s largest telecom group, Bezeq, said on Thursday that wholly owned subsidiary Bezeq International, an internet service and overseas calling provider, reached an agreement with its labor union regarding a efficiency program through 2021.

The plan, which will cost some 6 million shekels ($1.7 million), calls for letting go up to 325 workers, some under a voluntary retirement framework, and the possibility that the company will not replacing them.

In addition, the agreement includes a one-time payment to employees not included in the retirement plan, Bezeq said in a regulatory filing in Tel Aviv.

($1 = 3.5450 shekels)

Reporting by Ari Rabinovitch; Editing by Steven Scheer

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