Labor Ministry

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.        

Turkish ministry probes drug maker over bribe claims

Turkey's Health Ministry has said it launched an investigation into allegations a drug-maker, which it did not name, secured $85 million in business advantages through bribery.

Reuters reported this week an anonymous whistleblower accused Swiss company Novartis of paying bribes through a consulting firm to secure advantages worth an estimated $85 million.

Cuts in national pension to be discussed in Greece-‘Quartet’ meeting

The leadership of Labor Ministry prepares for the negotiation talks with Greece’s lenders to start on Wednesday noon aiming to save primary pensions (except high pensions) and find compromise solutions for the other demands of the ‘Quartet’, such as national pension, supplementary pension and replacement rates.

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