Cyprus Airways employees have been granted 48 hr. by the airline to accept a restructuring designed to produce an immediate CYP21.8 million ($45.3 million) in annual savings. The plan would require about 500 of CY's 1,830 employees to accept voluntary layoffs, Reuters reported. Talks between the carrier and its unions dissolved last month when workers refused to endorse a plan calling for approximately 360 layoffs and pay cuts for remaining workers (ATWOnline, Dec. 5). CY is seeking a ...

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