Insider Business Over 400 Bank of Cyprus employees opt to leave voluntarily

Over 400 Bank of Cyprus employees opt to leave voluntarily

Over 400 Bank of Cyprus employees have opted to take advantage of the fourth voluntary retirement scheme since 2013 offered by the island’s largest lender. The deadline expired on Friday, at 3pm, and the number is between 400 and 500, insiders told CNA.

At the same time, the management now plans to proceed with restructuring plans and to submit on Monday a detailed proposal on the steps to be followed before the board of directors.

The management has scheduled significant changes to its operating model so that it remains competitive and with a successful course in the long term.

And it has already made crystal clear that there is a need for further rationalisation and further modernisation due to the rapid development of digital technology.

 

Read more:

https://in-cyprus.com/bank-of-cyprus-voluntary-exit-deadline-expires-friday-afternoon/

Top Stories

BirdLife Cyprus invites pubic to join swallow monitoring programme

  BirdLife Cyprus is inviting the public to help their programme to record the island's swallow population. In a post on Facebook, the NGO asked members...

Article that found risks in hydroxychloroquine against COVID-19 retracted

  An influential medical journal article that found hydroxychloroquine increased the risk of death in COVID-19 patients was retracted on Thursday, adding to controversy around...

Latest on the worldwide spread of the coronavirus

Latest update: 05/06/2020 08:16 The U.S. government is working with drugmakers to maximize availability of influenza vaccines, worried that a substantial flu season on top...

CBC measures gave economy time to tackle crisis, Governor says

  The measures implemented by the Central Bank of Cyprus (CBC), a nine-month loan repayment moratorium and a €1.4 billion capital release issued to the...

Transport Μinister calls for restoration of air connectivity

  Cyprus, as an island, depends on air transport both for connectivity with the outside world and its economic development  and for this reason, efforts...

Taste

Poulles (Υoung kolokassi)

Either you thrash the coriander seeds in a mortar, without making them into dust, or you gradually crush them in a blender. Remove the edges...

Pork cooked in wine

Crush the coriander seeds in a pestle and mortar or pulse-blend in a blender, taking care not to over-grind. Put the meat in bowl (not...

Lefkaritikos tavas – O ‘protinos’

Wash and dry the meat and rice separately. In a ‘tava’ (oven proof deep clay pot) first put a layer of five-six pieces of meat...

Local cuisine: An introduction

Rich in fresh ingredients and tasty herbs, offers the very best of Mediterranean culinary delights. Head out to a tavern and feast on a...