Group of Co-operative bank workers faces a bleak future

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Group of Co-operative bank workers faces a...
 © In-Cyprus 2018
The state-owned Cyprus Cooperative Bank is allegedly set to unleash a wave of job cuts, with 800 to 1000 workers to be dismissed for 2018.

Potential investors are expected to ask employees to withdraw before purchasing the ‘good part’ of the bank, so their compensation to be paid by the state.

According to official sources from the Ministry of Finance, staff cuts are necessary, even if Co-operative is to be bought. More specifically, one part of the bank is to be transferred to a totally new scheme, another will be dealing with...


This article was automatically added to our system 20-5-2018

Group of Co-operative bank workers faces a bleak future


The contents of this article including any associated images are © In-Cyprus 2018
Views & opinions expressed in this article are those of the author and/or In-Cyprus .

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