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 […]

More power cuts expected today as EAC goes on strike

Power cuts should be expected due to today’s continuing strike measures by Cyprus’ Electricity Authority (EAC) employee unions. The semi-government and only electricity provider in Cyprus, EAC, employees are protesting against the government plans to privatize ther organisation as part of an agreement with Troika. Cyprus media outlets have published a possible schedule for the […]

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 […]