A new employment agreement at Discount will allow the bank to continue to grow

Revolution in the employment relationship at Discount: Employees will be employed long-term, will be able to be unionized but will not receive tenure.

The bank has signed a new employment agreement with the workers and the Histadrut.

The Bank's CEO Uri Levin: "The agreement provides a flexible and advanced platform that encourages continued growth"

Walla!

Of money

26/12/2021

Sunday, 26 December 2021, 11:56 Updated: 12:07

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A new employment agreement at Discount Bank will allow the bank's management, headed by Uri Levin, extensive managerial flexibility.

Under the agreement, the bank will be able to employ long-term employees without them becoming permanent.

These employees will be unionized in a committee but management will have the authority to terminate their employment if they wish.

In addition, the agreement includes reference to salary updates and grants for the years 2022-2024 and anchors adjustments to the new work environment and provides an option for hybrid work, which includes work from home.

In order to reach a maximum conditional return bonus, the bank will have to reach a return on capital of 14% as opposed to 10% as is currently accepted.

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Uri Levin, CEO of the Discount Group (Photo: PR)

"A platform that expresses the enormous appreciation for the Bank's employees"

Uri Levin, CEO of the Discount Group

: "This is a significant step that sharpens Discount Bank's leadership in the banking system, also in the field of labor relations.

The agreement provides the Bank's employees, committee and management with a flexible and advanced platform that encourages the Bank's continued growth and expresses our immense appreciation to the Bank's employees, who constitute our most important asset.

I am full of appreciation to all the factors in the Bank, the Committee and the Histadrut for the hard work they have invested in formulating this important employment agreement that will ensure the continuation of the excellent employment relationship at the Bank, for many years to come. "

Arnon Bar-David, Chairman of the Histadrut (Photo: Histadrut Spokeswoman and Finance Spokeswoman)

"Advanced world of work"

Arnon Bar-David, Chairman of the Histadrut

: "The agreement at Discount is a real line and a fundamental change in the bank's DNA. When employees fight for workplace success, everyone benefits. The bank currently has advanced and modern working relationships, and I am glad that this is being done in the best possible way.

The agreement takes us forward to an advanced world of work, giving employees wage increases and a long-term horizon. All this thanks to the joint and correct work of the management together with the employees. I thank Menachem Malik, Gil Bar-Tal, the legal team headed by Hannah Schnitzer, the committee members, the bank's management, the human resources department and everyone who was involved in achieving this important agreement. "

National Committee Chairman Rafi Kazalkofi: .

Chairman of the Board of Directors, Moti Bachar: "The agreement gives significant expression to the executives who are the spearhead of the bank and a hybrid salary increase that is expressed in percentage salary increases, grants and unique bonuses."

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Tags

• Wage agreement

• Uri Levin

• Discount

• Discount Bank

• The Histadrut