600 employees to leave CYTA within a year

CYTA (Cyprus Telecommunications Authority) and EAC (Electricity Authority of Cyprus) are the first two semi-government organisations that will be privatized. In order to make the organisations more efficient and subsequently more favourable for sale a number of their employees are to be laid off voluntarily and compensated. The parliament is called to approve an updated […]

CYTA going on a 3 day strike

Cyprus Telecomminications Authority (CYTA) employees started last night their 3 day strike following the decision of the five unions involved with the agency. CYTA, currently the largest and market dominant telecom in Cyprus, is one of the three semi-government organisations that are set to be privatized as part of government agreement with Troika. Selling off […]

CYTA’s alternative proposal to privatization revealed

According to Sigmalive the following proposal was presented as an alternative to privatization to the previous board of directors of CYTA. The proposal is a variant of “sale and leaseback” which according to the source is frequently method of financing companies of high capital growth. The proposal comes as an alternative to selling the whole […]