Cyprus to Cut Jobs, Contain Pay to Aid Finances, Stavrakis Says
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Cyprus’s government plans to cut workers and contain wages on the public payroll to get finances on a sustainable path after the country’s credit rating was downgraded, Finance Minister Charilaos Stavrakis said.
The government will hold talks with unions on “the containment of wages in the public sector, the reduction in the number of employees and cuts to operating expenditure,” Stavrakis said on April 19 in answer to e-mailed questions.