PARTNER COMMUNICATIONS ANNOUNCES THE RECEIPT OF NOTICE REGARDING A LABOR DISPUTE

Rhea-AI Summary

Partner Communications Company Ltd. (NASDAQ: PTNR) has received a notice of a labor dispute from the new general employees union on April 12, 2022. The dispute centers around demands for a collective employment agreement to ensure the rights and job security of employees following the sale of company control to Amphissa Holdings. Employees may initiate organizational actions, including a potential labor strike, starting April 27, 2022. The company is currently unable to assess the potential impact of this notice on its operations.

Positive

• None.

Negative

• Potential labor strike starting April 27, 2022, which could disrupt operations.
• The ongoing unionization efforts may negatively impact financial results as indicated in previous reports.

ROSH HA'AYIN, Israel, April 13, 2022 /PRNewswire/ -- Partner Communications Company Ltd. ("Partner" or the "Company") (NASDAQ: PTNR) (TASE: PTNR), a leading Israeli communications operator, reports that on April 12, 2022 the Company received notice of a labor dispute in accordance with the Settlement of Labor Disputes Law, 1957, that was announced by the new general employees union - cellular, internet and hi-tech employees union (the "Notice").

According to the Notice, the main issues disputed relate to the demand to sign a collective employment agreement in order to determine the rights of Partner employees and their employment security following the transaction for the sale of control of the Company to Amphissa Holdings Limited Partnership.

For further information, see the Company's Annual Report (on Form 20-F) for the year 2021 - "Item 3D. Risk Factors - Item 3D.2.k. The unionization of our employees has negatively affected and may continue to negatively affect our financial results." and "Item 6D. Employees". 

In accordance with the Notice, Company employees that are employed under a collective employment agreement, may take organizational steps (including a labor strike) as of April 27, 2022.

The Company cannot assess at this stage the impact of the Notice or its realization.

About Partner Communications

Partner Communications Company Ltd. is a leading Israeli provider of telecommunications services (cellular, fixed-line telephony, internet and television services). Partner's ADSs are quoted on the NASDAQ Global Select Market™ and its shares are traded on the Tel Aviv Stock Exchange (NASDAQ and TASE: PTNR). 

For more information about Partner see: http://www.partner.co.il/en/Investors-Relations/lobby

Contact: Tamir Amar Deputy CEO & Chief Financial Officer Tel: +972 (54) 781 4951

Amir Adar Head of Investor Relations & Corporate Projects Tel: +972 (54) 781 5051 E-mail: investors@partner.co.il

 

 

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SOURCE Partner Communications Company Ltd.

FAQ

What labor dispute has Partner Communications (PTNR) reported?

Partner Communications has reported a labor dispute related to demands for a collective employment agreement from the new general employees union.

When might the employees of Partner Communications (PTNR) strike?

Employees may commence a labor strike as of April 27, 2022, as part of the labor dispute.

How could the labor dispute affect Partner Communications (PTNR)?

The company cannot currently assess the impact of the labor dispute, but it could potentially disrupt operations and financial results.