EIGHTY CyTA employees are to leave at the end of the month through the utility’s voluntary redundancy scheme.
“Around 200 people have already left, 80 more will leave toward the end of the month and the rest at the end of the year,” said CyTA’s executive manager Aristos Riris.
The utility, which announced the scheme earlier in the year, estimated to save €250 million. The deadline was in May and 549 employees from all levels of the organisation had opted to leave.
“There are huge challenges and we are preparing the organisation to be able to cope; we have all the powers all the guarantees and all the potential to make it happen,” Riris said.
He added that that the utility would probably hire people to fill some of the posts that have been left empty and that a study was being conducted.
“Our goal is to have a strong organisation that will offer the right services to the public” he said
The average compensation being paid out to departing employees is €72,000 and the maximum €125,000.
The scheme was introduced ahead of the privatisation of the semi-government body, which is part of the bailout deal with the troika.