New Collective Agreement Signed for Bank Hapoalim Employees, Ensuring Job Security and Wage Increases

The Histadrut, the Bank Hapoalim employees’ organization and the management signed today (Wed) a new collective agreement that will guarantee about 6,000 bank employees significant wage increases and grants. The new agreement, following the understandings reached last month, guarantees the job security of the bank’s employees and will be in effect until the end of 2027.

The signing ceremony took place in the office of the Histadrut chairman, Arnon Bar David, with union leaders from UCAPSE, the bank’s management and the organization’s employee representatives.

Histadrut Chairman Arnon Bar-David: “This is a defining and important event in the life of Bank Hapoalim. We are signing a smart and correct agreement, which will move the bank forward. The relationship with Bank Hapoalim, which has a special place in the history of the Histadrut, is a long-standing one, a partner for the last 15 years. I am happy that we overcame the differences in the negotiations, and thanks to the experienced and responsible workers committee, we took care of the employees, who are full partners in the bank’s prosperity. Thank you to the UCAPSE and its chairman, attorney Gil Bar-Tal, and the head of the banking division, attorney Menachem Malik. I would also like to thank the chairman of the workers committee and Roni Garfunkel for his persistence and by doing something to strengthen the relationship with the management.”

The CEO of Bank Hapoalim, Dov Kotler: “The new agreement includes economic and organizational chapters, and it is our responsibility as management to implement them with wisdom, trust and fairness. The relationship between the management and the workers and the Histadrut was and will continue to be good, with mutual trust. I thank the negotiation teams who worked day and night to bring about this excellent agreement.”

The deputy CEO of Bank Hapoalim and the person in charge of the human resources division, Amit Overkovich: “We have adhered to the three principles we set out in the negotiations: to continue to conduct ourselves in partnership, to quickly promote common interests and to maintain an open dialogue and respectful discourse. Bank Hapoalim is a model organization, important to the state of Israel and to Israeli democracy.”
Chairman of the UCAPSE, attorney Gil Bar-Tal: “An agreement anchors within it an improvement in employment conditions and establishes the future of Bank Hapoalim. Special thanks to the chairman of the Histadrut, Arnon Bar David, for his backing and close involvement in reaching the agreement.”

The head of the banking division of UCAPSE, Adv. Menachem Malik: “The agreement is a rebirth of labor relations at Bank Hapoalim. Unprecedented, we should enjoy them.”
Workers Organization Chairman Roni Garfunkel: “Bank Hapoalim was born from the womb of the Histadrut. After nine months of labor pains, and at the end of a long and determined journey, today we signed an excellent salary agreement. I would like to thank the members of the national committee and the Histadrut for working together and in full cooperation all along the way for an important cause. Thanks also to the thousands of bank employees who demonstrated cohesion and determination.”