The decision to suspend the ongoing actions of the Cyprus Company Asset Management Company (KEDIPES) in relation to its surplus staff and the announcement of a new Voluntary Separation Plan (VPP) for the departure of at least 60 employees, announced the Company, following yesterday's meeting of its Board of Directors.
In its announcement, KEDIPES recalls that it was invited by the Labour Relations Department of the Ministry of Labour Welfare and Social Insurance to mediate in a labour dispute, a request made by the SEK and PEO unions.
It added that the Department of Industrial Relations called on the parties concerned to avoid any measures affecting industrial peace and asked the CEDIPES to consider reducing the number of staff through a Voluntary Separation Plan.
The Plan will be proposed to all permanent staff of the Company for the departure of at least 60 employees, the statement said, a move presented "as a last-ditch effort to ensure industrial peace and achieve the necessary reduction in staff numbers".
The SEA will be announced on the same terms as the 2021 Plan, provided that the approval of the Tax Commissioner on the tax-free nature of the compensation is obtained, KEDIPES says, concluding that "any consultation with the Guilds representing staff will be limited only to specific terms of the previous SEA."
Source: CNA
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