Hellenic employees want share of bank's excess profits

The Cyprus Bank Employees' Union (CBCU) has called for a three-hour work stoppage at all Hellenic Banks on Monday, November 6, 2023, from 3:00 p.m. to 6:00 p.m. The union's circular to employees emphasized the need to convince the management of Hellenic Bank to uphold collective agreements and labor institutions.

ETYK's primary goal is to unify all employees within the Hellenic Bank Group, ensuring equal working conditions without discrimination and disparities in their rights. The union's message underlines the importance of unity, prudence, and determination to achieve the ultimate goal of respecting contracts and ensuring fair compensation based on experience and job responsibilities.

Additionally, the union highlighted the rights of Hellenic Bank staff to a share of the bank's excess profits resulting from its acquisition of Synergatis and its anticipated 2023 performance. They argue that as the bank once charged losses to its staff during difficult times, it is now expected and just for there to be direct or indirect measures to restore the salary reductions of employees in light of the bank's surplus profits.

The circular concludes with a call for Hellenic Bank's leadership to adopt transparency in staff compensation, extending rewards to all employees rather than just a select few.

[Information sourced from the Cyprus Bank Employees' Union (CBCU)]