Insider Business 900 redundant CCB employees split in groups according to years of service

900 redundant CCB employees split in groups according to years of service

Unions and the the Cyprus Co-operative Bank are close to reaching a deal regarding the compensation to be paid to redundant CCB employers. The difference between the proposals of the two sides is currently around €10 million: the CCB proposes €105 million overall and the unions €115 million.

The general outline of the scheme has been agreed on: employees will be separated in groups according to years of service and will receive the corresponding compensation. The voluntary redundancy scheme will cover wages for 5 years minimum: there will be three groups, one with 5-10 years, one with 10-15, and one with 15-20 years of service. It has not been clarified as of yet what the compensation ceiling for each group will be.

However, some issues remain unresolved: the scheme will only cover those who had been hired before 2014. 160 employees who started working in CCB after 2014 are currently left out. The plan to be proposed for employees is expected to include the pre-existing health care and insurance arrangements for a certain amount of time.

Although the intention of the two sides was to close the deal by Wednesday, there may be an extension until the negotiations with the parties involved are completed and all pending issues are settled.

Read more

https://in-cyprus.com/news/business/former-ccb-employees-to-constitute-40-of-hellenic-bank-staff/

Top Stories

369 new cases through PCR tests, two deaths announced on Saturday

The Health Ministry announced the death of two persons due to COVID-19. Specifically, a woman 82 with underlying conditions, who had been treated at...

38-year-old arrested for sending videos of minor’s sexual abuse

The Police’s Office for Combating Cybercrime arrested a 38-year-old on the basis of an arrest warrant within the framework of investigating a case of...

Final phase of MEDUSA Multinational Exercise concluded

The final phase of the multinational aeronautical exercise "MEDUSA-10/20", which took place in the sea northwest of the city of Alexandria in Egypt, was...

PM Johnson and EU chief seek to break Brexit impasse

British Prime Minister Boris Johnson will speak to European Commission President Ursula von der Leyen on Saturday to try to break an impasse in...

Moscow rolls out Sputnik V COVID-19 vaccine to most exposed groups

Moscow began distributing the Sputnik V COVID-19 shot via 70 clinics on Saturday to the most exposed groups, marking Russia's first large-scale vaccination against...

Taste

Squash soup

Ingredients: 1 kg pumpkin, cut into small cubes, approximately 5 cups 2 medium (400g) sweet potatoes, cut into cubes, approximately 2 ½ cups 1 chopped leek, only...

Mezedes

No visit to Cyprus is complete without enjoying the traditional meal of many small dishes known as ‘meze’. This large feast, which has been a...

Prawns with fried cheese, barley shaped pasta

Put the barley shaped pasta into a small pan with salted water, bring to a boil and when tender, drain. Peal the prawns leaving...

Salmon and shrimp sheftalies

Mix all ingredients for tabbouli in a bowl and keep to one side so flavours can combine. Prepare the sheftalies: wash and soak the casing...