TEL AVIV, Israel, January 24, 2011 /PRNewswire-FirstCall/ -- Bezeq The Israel Telecommunication Corp., Limited (TASE: BEZQ), Israel's leading telecommunications provider, announced that the Board of Directors has approved a plan for the early retirement of up to 260 Bezeq Fixed-Line employees during 2011 (including completion of the early retirement plan for 2010) at an estimated cost of up to NIS 281.5 million, pursuant to the terms of the December 2006 labor agreement as amended in December 2010.
In light of the above, the Company is expected to record a provision in the above mentioned amount of NIS 281.5 million in its financial statements for the first quarter of 2011.
About Bezeq The Israel Telecommunication Corp.
Bezeq is Israel's leading telecommunications service provider. Established in 1984, the company has led Israel into the new era of communications, based on the most advanced technologies and services. Bezeq and its subsidiaries offer the full range of communications services including domestic, international and cellular phone services; Internet, ADSL, and other data communications; satellite-based multi-channel TV; and corporate networks. For more information about Bezeq please visit the corporate website at http://www.bezeq.co.il.
Investor Relations Contact: Mr. Naftali Sternlicht Bezeq Phone: +972-2-539-5441 E-Mail: email@example.com Media Relations Contact: Mr. Guy Hadass Bezeq Phone: +972-3-626-2600 E-Mail: firstname.lastname@example.org