In total 2,633 employees have left the human resources of the Bank of Cyprus since 2013, through various voluntary redundancy plans, with the 200,000 euros being the maximum amount employees got.
If we take into consideration the fact that the bank aims to further reduce its staff by 500-600 people through the new plan it has proposed, then the total number of employees to have left will reach 3,100-3,200.
According to Phileleftheros information, the Bank of Cyprus announced voluntary redundancy plans in 2013, 2016, 2019, 2020, and 2021. The annual amount saved is 6.6 million euros, while the bank stresses that it remains committed to its strategy to improve efficiency through digital transformation.
