Icl (ICL) has released an update.
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ICL Group Ltd. has signed a new collective labor agreement with the Dead Sea Works Workers Council and other labor organizations, effective retroactively from October 2022 through the end of 2027, potentially extending to 2028. The agreement entails a signing bonus that will result in an $8 million expense in the fourth quarter of 2024, but the overall annual costs are not expected to be significant. This development reflects ICL’s ongoing commitment to fostering positive labor relations while managing its financial responsibilities.
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