Cyprus Mail
Business Cyprus

Bank union calls one-hour strike for Tuesday at CCB

Head of ETYK Loizos Hadjicostis

Bank employees’ union ETYK said on Friday employees at the Co-Op Central Bank (CCB) would be taking part in a one-hour strike on Tuesday, February 4.

The strike is in protest following the decision on Wednesday by Finance Minister Harris Georgiades to issue a decree setting pay cuts in the co-op sector.

The CCB wanted to slash its payroll by 15 per cent to comply with its restructuring obligations as per the terms of its €1.5bn state bailout.

ETYK expressed their deep disappointment and dissatisfaction following the behaviour of CCB management and the finance minister.

“We demand the immediate annulment of this unfair, unethical and undemocratic decree which has been submitted at the expense of our colleagues at the CCB and we have ordered our legal advisors to submit an appeal to cancel it.” ETYK said.

Despite this, the union added, it has called CCB management to the negotiating table so a solution can be found through a healthy and constructive dialogue.

The decree included 300 ETYK members at the CCB in the terms already agreed between the remaining 2,700 employees represented by other unions, and co-op bosses. Separate talks with ETYK had broken down.

“The decree had been planned for days, which proves that negotiations were a fixed game with marked cards,” ETYK said.

For that reason and as a reaction, ETYK, as a first measure has called employees at the CCB to take part in a one-hour work stoppage on Tuesday, February 4, between1.30pm and 2.30pm.

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