Cellcom Israel Ltd. employees began a strike against the Israeli telecom company a day after its board approved a restructuring plan in efforts to reduce costs and decrease its debt.
The Histadrut labor union, which represents Cellcom employees, made the labor dispute announcement, according to a Sept. 24 news release. Cellcom said the strike encompasses the "vast majority" of the company's operations. The company noted that it is unable to "assess the effects of the strike or other organizational steps."
As part of its restructuring plan, Cellcom will cut its annual expenses by about 150 million Israeli shekels by reducing its workforce and landline wholesale access fees as well as its expenses and payments to suppliers.
As of Sept. 23, US$1 was equal to 3.52 Israeli shekels.
