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The goal for the Hellenic Bank was the impasse in the direct negotiations for the contract, ETYK states in its circular, which notes that only two meetings took place. & nbsp;
Says also that, the cost of the staff of Hellenic Bank is 20% lower than the other Banks “and nevertheless they want further reductions”.
The ETYK circular is as it is:
“To restore the truth, we must comment on yesterday's circular of the Bank's Chief Executive Officer, Mr. Oliver Gatzke, who, despite The fact that we were committed to avoiding public statements/controversies, he chose his favorite method, wanting to anticipate developments, hoping to guide them where he wants.
Mr. Gatzke claims that the direct negotiations between us for the renewal of the Collective Agreement have reached a deadlock, a fact that has left us speechless, since such a thing did not arise during the negotiations between us.
Based on the in the spirit of the Code of Industrial Relations, after the two parties submit their requests/reciprocity, they start the direct negotiations, with the first meetings having as object the presentation/analysis/documentation of the requests of each party.
In almost all negotiations, at the starting point, the positions of the two sides seem to be bridged, but through good will, perseverance and friction, the required convergences are created.
The number of two s meetings that have taken place to date are considered ridiculous to claim that one has exhausted the good faith negotiation.
That is why the actions of the Bank's Management create the impression that the whole course he has chosen was already predetermined and the need for negotiations between us was directed to create the “impasse” he seeks.
Through our decades of experience, this is the first time we have encountered such a foreign approach in our direct negotiations.
Of course, the above attitude is fully in line with the early impression that its purpose of the new Chief Executive Officer of the Bank, is to lay off staff without caring about the future and the consequences.
We have already submitted the above-mentioned positions regarding the process of renewal of the Collective Agreement in a letter to Mr. Gatzke with a notification to the Ministry of Labor, at the same time declaring once again the readiness of our Organization to continue the process of direct negotiations based on the code, as we have done over time with all Bank Managements.
We must remind everyone (colleagues, Management and journalists) of some recorded, bitter realities:
The cost of Hellenic Bank per employee is 20% lower than the cost of other Banks in Cyprus, so it is superior because it has reduced costs. The revenues in proportion to the other Banks of Hellenic Bank are 40% lower than the other Banks, so it lags behind in its revenues and that is the real problem.
What the Bank's circular tells us:
Many different but we will focus on very few. First he tells us that it is a given/planned to dismiss more than 1000 colleagues (immediately 350 and annually others)
To not To increase this number we must reduce:
Our salaries The Provident Fund The Health Fund The Social Benefits Fund etc.
It is known that compared to the Bank of Cyprus (which already shows satisfactory growth results) and their size is similar, the cost of Helliniki in terms of staff is only 60%. >
That is, Hellenic Bank pays (cost) for the same turnover only 60% so it is 40% cheaper and BUT it is unable to lead the Bank to positive results.
The reason is because unfortunately it can not follow the REVENUE policy that the other Banks have.
This is exactly the weakness that the current Management of Helliniki is trying to cover with the reduction of salaries.
The above data show that the Management of the Hellenic Bank has a competitive advantage over the other Banks, however it can not use it since the weakness of the Management of the Hellenic Bank is known. Bank to focus and succeed in increasing its revenues instead of chasing the easy “solution”.
Certainly, what everyone (staff, shareholders, customers) expects from a well-paid Management with international experience and parchments, is to show work in the difficult, ie in the development of work and increase revenue and not to resort to its easy “solutions” to reduce labor costs (these solutions can be done by anyone). His intelligence:
He claims that he “seeks uniformity in the employment conditions of all colleagues”.
If this is the Bank, then why did he provocatively ignore proposal of the Ministry of Labor dated 10/6/2021 for immediate integration of all the staff of Hellenic Bank in the scales of ETYK?
We would like to remind you that with the Management of Hellenic Bank we reached an agreement for the renewal of the Collective Agreement on all issues, the o which the Bank has failed as a result of which we are at the point where we are today with its unrealistic requirements.
Our Organization will come back whenever it is necessary to inform you about the developments “.