Egged calls off bus strike

Senior officials of the Ministry of Finance and the Ministry of Transport reached agreement with the heads of the Egged bus company yesterday on the immediate transfer of NIS 150 million

to Egged to secure salaries of Egged employees in the coming months. Egged is Israel's most important public transport service.

The sides agreed that they would conduct intensive negotiations for month with a view to signing a comprehensive agreement with Egged. The negotiations will be led by Ministry of Finance director-general Shai Babad, Ministry of Transport director-general Keren Terner, Histadrut (General Federation of Labor in Israel) chairman Avi Nissenkorn, and Egged chairman Avi Friedman.

In exchange for the cash transfer, the threat of a strike by Egged has been lifted. The strike was due to start tomorrow.

Babad said, "I'm glad that the parties showed responsibility and cancelled a strike that could have inflicted great damage on the economy. Over the coming month we will enter into negotiations with Egged in order to reach a long-term agreement."

Published by Globes [online], Israel business news - www.globes-online.com - on November 6, 2016

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Egged calls off bus strike