March 19, 2020 / 8:58 AM / 16 days ago

Israeli credit card firm Isracard puts half its staff on unpaid leave

TEL AVIV, March 19 (Reuters) - Isracard, Israel’s largest credit card company, said on Thursday it would put 40-50% of its workforce on unpaid leave for the month of April due to the coronavirus outbreak.

Starting this Sunday and until the end of March, up to half its workforce will be on holiday, using vacation days they had accumulated, Isracard said.

It added that the firm’s chairman, chief executive and management would give up 20% of their salaries between April and June.

“Isracard continues to operate as a vital company in Israel’s economy,” Isracard said.

Due to the coronavirus, much of Israel’s economy is shut, although supermarkets and pharmacies are open. Some shops and fast food places have resorted to delivery only. (Reporting by Steven Scheer; Editing by Tova Cohen)

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