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Around 1000 bank employees to opt for Co-op voluntary retirement scheme

August 21, 2018 at 11:21am
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Around 1000 employees have opted to take a voluntary retirement scheme offered by the Cyprus Co-operative Bank, according to trade union estimates, while the deadline ends today at 15.00.

The scheme, unveiled earlier in August, aims to reduce staff by 900 as certain parts of Co-op are being absorbed by Hellenic Bank.

PASEY PEO General Secretary Savvas Touloupos told CNA that the target of 900 people was surpassed last week. The number of those opting to leave the bank is now estimated at around 1000, he added.

The target has been met and the first part of the process has been successfully concluded, Touloupos noted.

He said moreover that trade unions PEO, SEK and PASYDY now focus on the smooth continuation of the process, concerning employees that will continue working either for the lender or Hellenic.

Touloupos said finally that the bank has the final word as regards the number of employees to benefit from the voluntary retirement scheme.