TASE Employees Go Back to Work Today

The employees of the Tel Aviv Stock Exchange (TASE) have decided to go back to work today after their one-day surprise strike last Thursday.

In response, it seems likely that the exchange's management will allow trading to resume.

The work dispute at the TASE, which has been going on for many weeks, is largely based on the union's request to switch most of the 80 workers employed on personal contracts or through manpower companies - mostly computer personnel and economists - to the terms of the collective bargaining agreement.

Another major bone of contention is salary increases in the new labor agreement now under negotiation. Employees say they want a 5%-7% increase per year, though management accused them of demanding a 51% raise over the next three years.

Despite the workers promise to end sanctions over the next few days, the threat of a strike is still looming since the union intends to join the general strike announced by the Histadrut labor federation in two weeks over the changes in tax breaks for advanced training funds (kranot hishtalmut).