Liberbank SA: Business description, financial summary, 3yr and interim financials, key statistics/ratios and historical ratio analysis.
Provider: Reuters Investment Profile
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Liberbank SA and labor union representatives sign agreement
Liberbank SA:Says it has signed an agreement with labor union representatives on working condition modifications, suspension of contracts and reduction of working hours.Says under the terms of the agreement 30 employment contracts will be suspended as of Jan. 1, 2014 over 18 months.Says at the end of the suspension period the workers will rejoin the company.Says under the terms of the agreement a total of 1,250 workers will reduce their working hours with the proportional reduction in salary by 30 percent during the period between Jan. 1, 2014 and June 30, 2017.Says after the period of three and half years of reduced hours, the employees will return to full-time employment.Says the employees whose salary is less than 30,000 euros and the management will reduce their working hours, with proportional reduction in salary during the period between Jan. 1, 2014 and June 30, 2017.Says other workers will reduce their working hours by 18 percent during the period between Jan. 1, 2014 and June 30, 2017, with the same proportional reduction in salary.Says after this period of reduced hours, the employees will return to full-time employment.
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