The strike of MAX credit card company employees (Shutterstock photo)
The employees of the MAX credit card company have now announced that they are shutting down from now on the loan centers, card blocking centers for customers who have lost a card, and so on, and even the business centers. At the same time, the customer service centers are back in action. The finance department also went on strike.
It should be remembered that MAX employees demand a significant bonus for the sale of the company to general insurance, but their demands are outrageous and seem to be unrelated to reality. Beverburg Pincus is willing to pay a bonus to the employees, but in amounts that are completely different from the bonuses that the committee demands. Here it is worth noting that the expected profit for Warburg Pincus from the deal is around NIS 250 million and the employees are demanding NIS 40 to 60 million.
One of the significant disputes stems from the work that Warburg Pincus did not withdraw dividends from the company unlike Bank Leumi as it did withdraw dividends and therefore its total profit from the sale of the company to Warburg was completely different. The money withdrawn from MAX over the years is rolled back into investing in the company’s business development, mainly in the world of clearing and business loans, hence the confusion created in the committee.
More in-
The committee informed that. The loan hotline, authorization and blocking hotline (which handles customers who report card loss/stolen) and the business hotline are on strike and customers will not be answered throughout the day. In addition, the company’s finance department is also on strike. Chairman of the committee Reut Pavlovich: “The management leaves us no choice and the struggle will continue and worsen as long as necessary until the management realizes that the sale deal has no right to exist without proper compensation for the employees, who are the direct cause of the growth the company has experienced in recent years.”
It should be noted that two weeks ago the Histadrut announced a labor dispute at the MAX credit and finance company. This is due to significant differences between the management and the employee representatives and the Histadrut regarding the sale grant – in light of the apparent transfer of control of the company to Clal Holdings. The dispute will apply to approximately 1,600 male and female workers.
It should also be noted that the sale of MAX from Warburg Pincus to “Kelal” has been discussed in recent months, and it may be implemented in the near future.
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