The operator’s executives had been under fire from employees following September’s announcement that it was slashing its workforce by a third as part of a programme to shift ILS150 million (€38 million) off the books.
This decision led to a walkout from employees and was followed by the resignations of Cellcom CEO Nir Sztern, CTO Ron Shvili, and Sholem Lapidot, the CEO of Cellcom’s holding company Discount Investment Company (DIC).
However, having announced a comprehensive restructuring plan, the Histadrut (the union representing the company’s employees) has entered into a collective employee agreement which amends its current arrangement with new terms.
The terms are as follows:
The Histadrut has also called off September’s labour dispute.
Despite its ongoing losses, Cellcom Israel is reportedly in talks to acquire mobile phone operator rival Golan Telecom. It had previously tried to merge with rival telco Hot, however it is believed that Hot would rather strike a deal with Altice Europe subsidiary Partner.
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