Cyprus -Bank workers offered early retirement -November 20, 2015

More than a month after the Hellenic Bank and trade union ETYK engaged in negotiations the bank, the country’s third largest lender, announced that it is offering its workers a voluntary retirement scheme as part of its effort to restructure its business model. The union had threatened to escalate labour action against the bank. ETYK enforced work-to-rule action over several months at Hellenic. The union was angered by the bank’s decision to appoint or promote staff to managerial positions without its approval, as well as plans to expand customer service hours into the afternoon and Saturdays. ETYK’s demand that workers continued to receive below market rate loans were also a point of contention.

English: http://cyprusbusinessmail.com …   

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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