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The Histadrut labor federation and the banks' workers committees will moderate their opposition to the Bachar Comittee reforms in the capital market if their demand for a new labor agreement accompanying the reforms is accepted.

The demands include a new collective labor agreement preventing harm to the workers in terms of their future employment and salary conditions.

A letter sent at the end of last week by the head of the Histadrut banking division, Zion Shema, to the head of the Knesset's Finance Committee, Yaakov Litzman, laid out the framework for the worker's agreement to the reforms.

The Histadrut is demanding that the Knesset Finance Committee not approve the proposed capital market reforms unless the employees are promised that none would be fired as a result of the changes.

According to Shema, none of the three proposed laws that make up the reforms deal with the bank employees' rights.

Therefore, he insists on including in the law a requirement that a collective agreement be signed that would guarantee professional retraining for the workers who need it as a result of the reforms.

This is similar to the agreement signed by the Histadrut with the Postal Authority when the Bezeq telephone company was created out of the Postal service 21 years ago.