The ministry of labour, Cyprus Airways and trade unions are meeting to discuss the implementation of the social plan accompanying the rescue of the airline. One of the issues to discuss is the liquidity of the airline’s funds after the 27% tax on its deposits at the former Bank of Cyprus. Presumably, the 450 employees who will be laid off will receive 50% of the conditions in the existing social plan. The arrangement will enter into force on 1 April 2013 and last for three years.
English: http://famagusta-gazette.com/minister-of-labour-to-meet-cyprus-airways ...
For more information, please contact the editor Jan Cremers, Amsterdam Institute for Advanced Labour Studies (AIAS) cbn-aias@uva.nl or the communications officer at the ETUI, Mariya Nikolova mnikolova@etui.org. For previous issues of the Collective bargaining newsletter please visit http://www.etui.org/E-Newsletters/Collective-bargaining-newsletter. You may find further information on the ETUI at www.etui.org, and on the AIAS at www.uva-aias.net.