JERUSALEM: 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 (US$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.
(US$1 = 3.5450 shekels)
(Reporting by Ari Rabinovitch; Editing by Steven Scheer)