Cyprus Mail
Cyprus

Pending redundancy applications exceed 16,000

Pending redundancy payment applications in September soared by 60.36 per cent year-on-year reaching 16,308, figures released by the ministry of labour and social insurance show.

Amid deep financial recession and slowing economic activity, redundancy applications increased to 16,308 in September, compared with 16,204 in August 2013 and 10,793 in September the previous year.

A total of 775 applications were submitted in September, of which 541 were approved and 130 rejected. The labour ministry disbursed €6.64 million in redundancy payments.

The Redundancy fund received a total of 10,940 applications in the first nine months of 2013, of which 4,637 have been approved and 1,052 rejected paying out a total of €41.71 million.

In a bid to cope with soaring redundancy applications, the ministry hired 45 jobless university graduates who underwent to special training.

Labour Minister Zeta Emilianidou has said that the ministry aimed at examining applications outstanding for more than 18 months, by the end of the year, and to pay those redundancy applications that have been approved.

 

 

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