Termination of employment
1,430 employees at the central level and 322 at the local level applied for a public call for a consensual termination of employment with severance pay.
The heads of authorized bodies will decide on the requests of interested employees for a consensual termination of employment by September 30, 2019.
Voluntary layoffs are reportedly expected next year with most credit institutions effecting a reduction in their employee numbers. The first large voluntary exit program, according to Kathimerini, is expected to be implemented by Bank of Cyprus, although guidelines and provisions for the layoffs have not been finalized yet.