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Chlorakiotis: Painless staff downsizing

14/11/2012 12:58
General Director of the Central Cooperative Bank, Erotokritos Chlorakiotis stated on Wednesday that if it becomes necessary to reduce personnel in the Cooperatives, this will be painless and without social unrest. However, he excluded the possibility of half of the employees staying out of work, if the number of cooperatives is reduced.

Speaking to CyBC, Mr. Chlorakiotis stressed that in the context of restructuring, the Cooperatives proceeded with mergers without redundancies.

According to Mr. Chlorakiotis, there are currently 96 Coops and the aim is to reduce this number to 30 – 35, as troika suggests.

“If staff reductions are imposed, this can be achieved painlessly without causing social unrest”, he concluded.