KEDIPES must stop its threats of redundancies immediately

Statement by AKEL C.C. Spokesperson Giorgos Koukoumas

30 March 2022, AKEL C.C. Press Office, Nicosia

Arbitrary and authoritarian actions at the Cyprus Asset Management Company Ltd (KEDIPES) are threatening to drive dozens of working people into unemployment. Instead of improving the voluntary redundancy scheme, the management of KEDIPES is proceeding with redundancies, thereby undermining efforts at dialogue.

We call on KEDIPES to stop the threats of redundancies immediately and to cease issuing redundancy letters to the workers. We point out that if these actions are allowed to happen in KEDIPES, then – given the situation in the wider banking sector – the appetite of other commercial banks will be whetted.

AKEL stands on the side of the working people in KEDIPES and immediately brings the issue back for discussion in the Parliamentary Finance Committee.