Cyprus Mail
Business

Hellenic Bank workers offered voluntary retirement scheme

By Stelios Orphanides

(Adds comment by workers union ETYK in third paragraph)

Hellenic Bank, Cyprus’s third largest lender, said that it is offering its workers a voluntary retirement scheme as part of its effort to restructure its business model.

“The compensation will take into consideration the termination of service and the loss of career of each worker who will opt to retire,” the bank said in an emailed statement on Friday. “Calculation of the compensation will be based on the salary and years of service. The maximum amount which will be paid to an employ with 30 years in service is two years’ salaries”.


Related posts

Insecure EEZ a ‘danger to the people’ (updated)

Elias Hazou

Famagusta bus drivers demonstrate for second day

Gina Agapiou

UK watchdog tells banks: explain overdraft pricing or face action

Reuters News Service

Finnish paper mill workers to strike as wage talks fail – union

Reuters News Service

Investment Opportunities for the Retail Investor

CM Guest Columnist

China’s global success story achieved through hard work

Kyriacos Iacovides