Israel’s Bezeq Telecom To Reduce Workforce At ISP Subsidiary

Israel’s largest telecom group, Bezeq, said on Thursday that wholly owned subsidiary Bezeq International, an internet service and overseas calling provider, reached an agreement with its labor union regarding a efficiency program through 2021.

The plan, which will cost some 6 million shekels ($1.7 million), calls for letting go up to 325 workers, some under a voluntary retirement framework, and the possibility that the company will not replacing them.

In addition, the agreement includes a one-time payment to employees not included in the retirement plan, Bezeq said in a regulatory filing in Tel Aviv.―Reuters