Our View: Is it the end of the line for voluntary exit schemes?
There is an unwritten law in Cyprus by which banks and semi-governmental organisations cannot make staff redundant. They can only offer a voluntary exit scheme by which it is up ...
‘Thousands’ of early retirees to benefit from new government proposal
Around 25 per cent of pensioners who retired at 63 look set to benefit from a government proposal to slash the 12 per cent penalty imposed on early retirement for those who contributed ...
Our View: Bill covering voluntary retirement schemes is thievery
President Nikos Christodoulides has kept his election promise to make the bank employees who took voluntary early retirement eligible for unemployment benefit. The government has submitted a bill custom-made for ...
450 to leave Hellenic Bank, at cost of €70 million
Hellenic Bank announced on Tuesday that approximately 450 people have been approved to leave as part of the ‘milestone’ voluntary retirement scheme, which will cost the bank €70 million.
The plan was ...