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CAIR: “Take it or leave it” compensation plan

02/12/2005 16:17
The government decided on Friday to submit a new plan of voluntary retirement with significant compensations to the Cyprus Airways staff that will be dismissed as redundant, after the meetings between the Finance, Transport and Commerce Ministers and the trade unions.

Commerce Minister, Giorgos Lillikas stated that the government has prepared an attractive plan of compensations with a number of improvements compared to the reorganization plan on condition that the trade unions will accept the fact that the national carrier will dismiss 500 staff members.

SYNYKA-SEK General Secretary, Costas Demetriou said that the new governmental proposal is neither rejected nor accepted. “The proposal will be examined by the coordinative committees of the five trade unions and will announce their decision the soonest possible”, he said.

According to StockWatch sources, if the 500 staff members are ready to accept the compensation plan, the trade unions will not raise any objections.