Co-op bank employees will have two weeks to choose whether or not to accept a voluntary retirement scheme to be presented to them on Wednesday, the shareholders of the bank decided at a meeting on Tuesday.
The scheme will be presented to 900 workers in the framework of transferring all the ‘good’ assets of the Co-op to Hellenic Bank.
The plan seeks to provide up to €180,000 of compensation to the employees, and takes into account their years of service and annual gross salary of 26 per cent. The total cost of the plan is estimated to be €128 million.
All employees of the Co-Op have the option of benefitting from the scheme, CNA reported, including those who were transferred to Altamira Asset Management.
The unions Oiyk-Sek, Pesey-Peo, and Pasydy all signed off on the scheme, and called on their members to choose to take the deal, once they have stabilised their personal finances.
Banking union, Etyk, however disagreed with the agreement, saying it was not attractive.
The post Co-op employees to have two weeks to decide on voluntary retirement scheme appeared first on Cyprus Mail.
Read more → https://cyprus-mail.com/2018/07/31/co-op-employees-to-have-two-weeks-to-decide-on-voluntary-retirement-scheme/
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