Nicosia, Cyprus. Bank employee union Etyk members at Societe Generale Bank Cyprus approved the renewal of their collective agreement for the 2023–2027 period with 96% support, introducing a four-day working week during the summer months for the first time in Cyprus.
Member vote and presentation
During the meeting, Etyk honorary president Loizos Hadjicostis presented the provisions of the agreement and analysed its content in detail. He answered questions and provided clarifications to ensure participants fully understood the terms and provisions of the contract.
Four-day week during summer months
According to an announcement, an overwhelming majority of members supported the union’s proposal, resulting in a 96% approval rate. The announcement described the decision as a historic development for labour relations in Cyprus, saying the four-day working week will be institutionalised and implemented during the summer months.
Working hours, benefits and additional provisions
The union said daily working hours will remain the same despite the four-day working week during the summer period, and that employees’ benefits and earnings will not be affected. The agreement also includes additional provisions aimed at improving working conditions, including a one-off payment of €1,500 to all employees, to be paid by March 31, 2026.
How do you think a summer four-day working week could affect workplace productivity and staffing?
