Cyprus -Redundancy talks at new Bank of Cyprus -May 26, 2015

Pay cuts, 20% job cuts likely at Bank of Cyprus.

The leader of the bank employee trade union ETYK stated that the new Bank of Cyprus (BoC) must shed at least 20% of its staff to survive. ETYK had asked for a voluntary retirement plan but the absence of a CEO made it so far impossible to proceed. Other measures, like pay cuts, would also be necessary.

English: http://cyprus-mail.com/2013/05/26/boc-must-shed-20-per-cent-of-staff/     

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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