Employees who submit an application for voluntary retirement

that is approved by the company will receive a retirement grant

of up to 20 salaries as well as severance pay.

After protracted discussions, Pelephone Communications Ltd. management and workers committee have agreed an early retirement plan. As part of the plan, employees agreeing to retire will receive preferential conditions thought to be relatively generous by sources in the sector.

According to the agreement, employees who submit an application for voluntary retirement that is approved by the company will receive a retirement grant of up to 20 salaries as well as severance pay.

An employee who has been with the company for 10 years will receive a retirement grant of 9 salaries and one month’s notice. The agreement comes due to restructuring and streamlining.