Cyprus -Wage cuts in the banking sector -August 01, 2013

Bank employees’ trade union ETYK endorsed a proposal for wage cuts for all workers except those from the Bank of Cyprus (BoC). The proposal for salary reductions and for the creation of a solidarity fund was upheld by 78% of union members who took a vote at general meetings across the island. The proposal includes monthly cuts ranging from 5% for employees on salaries up to €2,000 to 30% for salaries above €10,000. BoC staff cuts had already been agreed previously. Late July the union called off a strike after BoC agreed to a new deadline for a proposed voluntary redundancy plan.

English: http://cyprus-mail.com/tag/etyk/

 

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.


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