Tuesday May 26, 2015 Search
Weather | Athens
14o C
09o C
News
Business
Comment
Life
Sports
Community
Survival Guide
Greek Edition
Talks on salary cuts proceed in various sectors

By Christina Kopsini

The process of negotiating salary cuts in the trade and banking sectors began this week between employer associations and union representatives, with reductions ranging from 8 to 15 percent, according to sources.

Trade employer associations on Wednesday discussed and agreed to go ahead with drafting a “social pact” and a new collective contract for the sector. They are set to warn of the risks and problems of the sector that employs 450,000 people and which suffered an 8.9 percent turnover drop in 2011.

The process involving employers will continue next week, while talks with the unions will then focus on cuts that are likely to range between 8 and 10 percent.

At the same time the Bank of Greece has agreed a new three-year labor contract with its union providing for cuts of between 2.5 and 7 percent along with an increase in work hours by 3.5 per week.

Alpha Bank is preparing for a 15 percent salary cut on average, which has drawn the wrath of the Federation of Bank Employee Unions (OTOE). Hotel proprietors are also after a 15 percent salary cut, while asking for an end to eight-hour shifts.

ekathimerini.com , Thursday April 19, 2012 (23:01)  
Finance Ministry says tax on ATM withdrawals not in the cards
´Grexit´ risk dips even as aid talks go to the wire, investor survey shows
Greece might sidestep June 5 IMF payment deadline
Gov´t considering small tax on ATM withdrawals
Brussels Group postponed to Wednesday
A new round of discussions between Greece and its creditors, originally expected to take place on Tuesday, have been postponed to Wednesday, a high-ranking government official said on Tuesda...
EU defends Juncker´s ´cool style´
Aides to European Commission chief Jean-Claude Juncker went to his defence Tuesday for shirking protocol when he greeted leaders at an EU summit last week, saying he was known for his "cool ...
Inside News
SOCCER
Berg brace gives Panathinaikos four-point lead
Panathinaikos beat Atromitos on Sunday and took advantage of the goalless draw between PAOK and Asteras Tripolis to open a four-point gap from PAOK at the top of the Super League play-off mi...
SOCCER
Reds add Cup to league trophy with 3-1 win over Xanthi
Olympiakos completed a league-and-cup double on Saturday by beating Xanthi 3-1 in the Greek Cup final at the Olympic Stadium of Athens, that was more balanced than the final score suggests. ...
Inside Sports
COMMENTARY
Shame, justice, democracy
Contrary to the urban myth that Greek students are no longer taught Ancient Greek at school, they are both taught and tested on it. This does not mean to say, of course, that the subject is ...
EDITORIAL
Worrying signs in ruling party
Statements made by certain high-ranking SYRIZA officials during the party’s central committee assembly on Saturday are a source of concern. It has become blatantly clear by now that a signif...
Inside Comment
SPONSORED LINK: FinanzNachrichten.de
SPONSORED LINK: BestPrice.gr
 RECENT NEWS
1. Brussels Group postponed to Wednesday
2. EU defends Juncker´s ´cool style´
3. Finance Ministry says tax on ATM withdrawals not in the cards
4. ´Grexit´ risk dips even as aid talks go to the wire, investor survey shows
5. Greece might sidestep June 5 IMF payment deadline
6. Gov´t considering small tax on ATM withdrawals
more news
Today
This Week
1. Overhaul planned for car taxation
2. Euro falls to four-week low as Greece deadlock spurs volatility
3. IMF's Blanchard says Greek budget proposals not enough
4. Time running out for Greece, ESM head Regling says
5. Here’s a Greek business that’s booming: Making test-tube babies
6. More migrants reach Greece, approaching 1,200 in 2 days
Today
This Week
1. Conspiracy madness
2. National self-awareness put to the test
3. Albanian demarche raises concerns about possible territorial claims over Greece
4. Why Greece won't hold referendum on reforms
5. Greek endgame nears for Tsipras as bank collateral hits buffers
6. Hotel contracts with a ‘Greek default clause’
   Find us ...
  ... on
Twitter
     ... on Facebook   
About us  |  Subscriptions  |  Advertising  |  Contact us  |  Athens Plus  |  RSS  |   
Copyright © 2015, H KAΘHMEPINH All Rights Reserved.