El Al fires 200 workers

-

El Al Israel Airlines Ltd. today announced that it is firing 200 non-tenured workers and employees with personal contracts, and making structural changes.

El Al CEO Elyezer Shkedy said, "For a long time, El Al has been dealing with the difficulties faced by the global aviation industry in general, and in Israel in particular. The company is committed to continue streamlining to adjust its operations to the changing market conditions. We are therefore forced to announce the termination of the employment of 200 non-tenured employees and employees with personal contracts. The need to streamline and cut costs is critical in order to continue dealing with the challenges and growing competition. We are doing this with a heavy heart and in the hope that the measure will strengthen El Al."

El Al added that it would continue talks with the workers committee and the Histadrut (General Federation of Labor in Israel) to renew the labor contract, and on other streamlining measures, in order to cut costs and improve administrative ability to be commercially competitive.

Two weeks ago, First Israel Mezzanine Investors Fund, run by CEO Ishay Davidi announced that it was in advanced talks to join El Al's controlling core alongside Knafaim Holdings Ltd., controlled by the Borovich family. The deal will be made in stages, including an initial $5 million investment for 5.7% of El Al and the purchase of $5 million worth of shares from Knafaim. A deal is subject to El Al signing a new labor contract with the union.

Globes


Comments

Post a Comment

Popular posts from this blog

Huge Japan Quake Cracked Open Seafloor

-
The March 2011 megaquake off the coast of Japan opened up fissures as wide as 6 feet (3 meters) in the seafloor, a new study finds. The fissures now scar the seafloor where peaceful clam beds once lay, according to Takeshi Tsuji, a researcher at Kyoto University in Japan . Along with seismic studies, the fissures, revealed by manned submersible vehicles that investigated the seafloor after the quake, show how the crust around the quake's epicenter expanded and cracked.
Read more

Index for a million documents on Polish Jewry to go online

-
Researchers of Polish Jewry are set to gain online access to more than 1 million new documents following an agreement signed by the Polish State Archives. Under the agreement signed last week, Jewish Records Indexing-Poland will receive indices to the documents from the Polish archives authority and place them on the website of the online database within one year, a JRI-Poland statement read.
Read more

A lot of the bread in the US will no longer be kosher

-
The largest baking company in the United States will be removing kosher certification from nearly all of its bread and rolls. Bimbo Bakeries USA confirmed to JTA that it will be removing the certification. The company produces brands including Arnold, Sara Lee, Stroehmann, Freihofer’s and others. Two of its major brands, Entenmann’s and Thomas, will remain certified kosher. So, kosher eaters, your crumb doughnuts and English muffins are still safe. A couple of rye breads also will retain their certifications. “Removing the kosher certification from some of our products was strictly a business-process decision to enable more efficient operations, and it was one we did not make lightly,” Bimbo said in a statement. “Thomas’ and Entenmann’s products as well as Arnold’s and Levy’s Rye Breads will remain kosher-certified. It is important to note that we have heard our consumers’ concerns and are working with kosher certification organizations and discussing alternative solutions.” The c
Read more