Type
Internal restructuring
Country
Cyprus
Region
Kypros / Kibris; Kypros / Kibris; Kypros / Kibris
Location of affected unit(s)
NA
Sector
Information / Communication
Information Communication Services
Telecommunications
61 - Telecommunications

150 - 350 jobs
Number of planned job losses
Job loss
Announcement Date
20 November 2013
Employment effect (start)
31 December 2013
Foreseen end date
31 July 2014

Description

On 20 November 2013, the Board of Directors of the Cyprus Telecommunications Authority (CYTA) submitted to the Ministry of Finance a job reduction plan introducing an early retirement scheme that will involve around 350 employees by the end of July 2014.

As reported, the plan envisages 150 jobs cuts till the end of 2013 and 200 ones till the end of July 2014.


Sources

  • 20 November 2013: Stockwatch

Citation

Eurofound (2013), Cyprus Telecommunications Authority (CYTA), Internal restructuring in Cyprus, factsheet number 76210, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/76210.