Societe Generale Bank Cyprus introduces four-day work week

Societe Generale Bank Cyprus has reached a collective bargaining agreement with the ETYK union for the 2023-2027 period, becoming the first bank in Cyprus to implement a four-day work week. While major institutions like the Bank of Cyprus and Eurobank signed separate agreements without this provision, the smaller Societe Generale, which employs 100 people, agreed to the measure. Under the new terms, employees will work on a rotating basis four days a week during July and August, while maintaining normal bank operations for customers throughout the week. The agreement also includes a one-time payment of 1,500 euros for all staff upon signing. Additionally, workers will receive three extra days of annual leave. The contract further provides for improved salary scales and increased loan amounts for employees. ETYK management praised the leadership of CEO Khalil Letayf and Deputy CEO Nadim Abawat for their constructive approach during negotiations.