Staff at Bank of Cyprus’ restructuring and debt collection unit on Tuesday announced a two-hour warning strike for Friday to protest the lender’s intention to outsource.
According to bank workers union Etyk, the strike will take place between 12.30pm and 2.30pm.
In a circular, the union threatened to escalate its measures across the group “since the danger from the administration’s actions threatens all colleagues.”
“The bank’s intention to unilaterally assign work to outside associates at will and in violation of current agreements and labour statutes shows the management’s real intentions regarding employment but also the clear danger for our members’ jobs in the near future,” Etyk said.
The union said there were also other examples that showed the management’s contempt towards the agreements and staff.
Etyk claimed the management exercised pressure on staff to leave the union and outsourced work to third parties in violation of agreements, and unpaid overtime.
The announcement coincided with the publication of the lender’s nine-month results in which it showed an after-tax loss of €553m.
At the end of June, non-performing loans stood at €9.7bn, or 50 per cent.