Pending redundancy applications exceed 16,000

Pending redundancy payment applications in September soared by 60.36 per cent year-on-year reaching 16,308, figures released by the ministry of labour and social insurance show.

Amid deep financial recession and slowing economic activity, redundancy applications increased to 16,308 in September, compared with 16,204 in August 2013 and 10,793 in September the previous year.

A total of 775 applications were submitted in September, of which 541 were approved and 130 rejected. The labour ministry disbursed €6.64 million in redundancy payments.

The Redundancy fund received a total of 10,940 applications in the first nine months of 2013, of which 4,637 have been approved and 1,052 rejected paying out a total of €41.71 million.

In a bid to cope with soaring redundancy applications, the ministry hired 45 jobless university graduates who underwent to special training.

Labour Minister Zeta Emilianidou has said that the ministry aimed at examining applications outstanding for more than 18 months, by the end of the year, and to pay those redundancy applications that have been approved.

 

 

The Cyprus Mail is the only English-language daily newspaper published in Cyprus. It was established in 1945 and today, with its popular and widely-read website, the Cyprus Mail is among the most trusted news sites in Cyprus. The newspaper is not affiliated with any political parties and has always striven to maintain its independence. Over the past 70-plus years, the Cyprus Mail, with a small dedicated team, has covered momentous events in Cyprus’ modern history, chronicling the last gasps of British colonial rule, Cyprus’ truncated independence, the coup and Turkish invasion, and the decades of negotiations to stitch the divided island back together, plus a myriad of scandals, murders, and human interests stories that capture the island and its -people. Observers describe it as politically conservative.