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KEO crisis in the hands of Archbishop

07/06/2011 13:58
The future of the labour dispute in KEO lies in the hands of Archbishop Chrisostomos since the Church of Cyprus is the owner of the company. The deliberations between the Management of KEO and the trade unions have reached a deadlock after the rejection of the proposal which connects the proposal for the renewal of the union contracts with the allocation of benefits of €1.5 million on behalf of the staff.

The representatives of SEK and PEO, Neophytos Constantinou and Andreas Ioannides told StockWatch that the employees do not accept the connection of the renewal of the union contract for the next three years with the allocation of their benefits. The Company’s proposal also provides for the refusal of any pay rises on behalf of the staff in 2012. It also recommended the reduction of the annual leave as well as other benefits.

With the rejection of the proposal, the strikes continue while the Management is currently in talks with the Archbishop, who is the owner. At the same time, the trade union representatives are on hold for the Management’s answer so as to continue with the deliberations.