Labor Ministry

Pensioners to stage protest Friday

Several unions representing Greek retirees from several different sectors are to join forces on Friday in a demonstration outside the Labor Ministry to protest the latest round of cuts to pensions.

Members of the groups are to meet at central Klafthmonos Square before marching to the ministry.

Pensioners protest in Athens over new round of cuts

A pensioner holds up two 5-euro notes during a protest against additional cuts to auxiliary pensions outside the Labor Ministry, in Athens, Tuesday. Meanwhile, European Economic and Monetary Affairs Commissioner Pierre Moscovici said that part of Greece's bailout funding would go toward meeting delayed pension payments.

Security firm Pyrsos also shuts down

Pyrsos Security has shut down after 22 years in the private security sector, leaving without work some 800 employees who have also gone without pay for at least five months.

According to the Labor Ministry, the company stopped paying its creditors about a year ago, and owes 8.2 million euros in contributions to the Social Security Foundation (IKA).

Paper foresees major pension cuts

The social security landscape in Greece will change significantly once the bill tabled yesterday in Parliament by the Labor Ministry becomes law, as it contains reductions in pensions of over 1,170 euros per month, as well as to retirement lump sums and dividends, along with contribution hikes for workers and pensioners and permanent mechanisms for the reduction of benefits.

Turkish government seeks 'flexible' labor act

The government has met some of Turkey's major unions on March 31 ahead of major planned labor-law reforms that would allow private employment agencies to create temporary working relations. 

Labor Ministry deputy undersecretary Ali Kemal Say?n said the changes were needed to harmonize the law with directives from the European Union and the International Labor Organization.