Bank Discount Agrees to Hire 200, Ending Labor Dispute

Union had drawn fire for kicking up a fuss after the war began

The three-week labor dispute at Israel Discount Bank (TASE: DSCT) is finally over. The bank's national union announced as last week rolled to a close, that the dispute is over, after the management agreed to hire more than 200 people to ease the manpower crunch that the management denied, but that the workers claimed to exist.

A second cause of dispute was overtime. The workers claimed they had no choice but to work overtime because of the manpower shortage at the bank.

Union chairman Riki Bachar commented that the representatives ended the dispute after the management agreed to hire more than 200 people, including as investment advisers, and some as tellers too.

He added that the new workers would make service at the branches better, and said that the new workforce would obviate the need for overtime, ending that dispute as well.

The manpower shortage was created by the voluntary retirement scheme that has been in place at the bank for years. Hundreds of workers left without being replaced over the years.

The dispute ends just as Discount's 5,700 workers were gearing up to strike. Their protest aroused a great deal of public criticism, because the dispute was declared mere days after the war up north began.