Cyprus -Trade union rejects early retirement scheme -June 06, 2013

The trade union of bank employees ETYK has rejected an early retirement scheme offered by the Cyprus Development Bank (CDB), which wants to cut personnel costs by 35%. ETYK said it was not prepared to accept any unilateral actions that violated collective agreements and that it ‘had asked for an agreed, attractive voluntary exit scheme’ that will lighten the bank’s payroll.



For more information, please contact the editor Jan Cremers, Amsterdam Institute for Advanced Labour Studies (AIAS) or the communications officer at the ETUI, Mariya Nikolova For previous issues of the Collective bargaining newsletter please visit You may find further information on the ETUI at, and on the AIAS at

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