]Hapoalim Bank approved: voluntary retirement plan of 900 of the bank's employees

The Board of Directors of Bank Hapoalim approved a huge voluntary retirement plan of 900 of the bank's employees on Wednesday. Under the plan, employees who choose to retire will do so by 2022. The cost of the plan, according to bank reports - NIS 535 million (before tax). As of the end of 2018, the number of bank employees stood at 8,809, so this is a voluntary retirement plan of 10.2% of employees.
At the same time, the workers' management and the bank's board of directors approved a new salary agreement with the bank for 2018-2022 (ie, it includes a retroactive component). Under the agreement, employees will be paid an average annual salary of 3.7%, and they will also receive a one-time grant.
The Board of Directors of Bank Hapoalim approved a huge voluntary retirement plan for 900 of the bank's employees on Wednesday. Under the plan, employees who choose to retire will do so by 2022. The cost of the plan, according to bank reports - NIS 535 million (before tax). As of the end of 2018, the number of bank employees stood at 8,809, so this is a voluntary retirement plan of 10.2% of employees.
At the same time, the workers' management and the bank's board of directors approved a new salary agreement with the bank for 2018-2022 (ie, it includes a retroactive component). Under the agreement, employees will be paid an average annual salary of 3.7%, and they will also receive a one-time grant.