Cyprus - Bank workers go on indefinite strike - April 30, 2016

FBME Bank staff announced that they will be going on an indefinite strike in protest against the mass lay-off of 136 staff. On 31 March, the new administrator of FBME in Cyprus, delivered signed redundancy notices to 136 FBME Bank workers, covering the major part of the remaining employee base of FBME in the country, citing cost cutting for this decision. The mass lay-offs came after a recent decision by the US Treasury Department’s financial crime enforcement network – FinCEN – to support an earlier ruling prohibiting US banks from opening or maintaining correspondent accounts of or on behalf of FBME, which, FinCEN described as a primary money laundering concern.


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