Nicosia, Cyprus. Eurobank extended the deadline for applications to its voluntary exit scheme to Friday, March 28, 2026. The scheme was launched on March 9, 2026, with the original participation deadline set for March 23, 2026.
Extended deadline and target departures
The bank said it decided to grant employees additional time to apply. Eurobank is aiming for the departure of approximately 300 employees through the scheme.
Compensation and benefits
Eurobank described the scheme as one of the most attractive ever offered, featuring an additional compensation of 10 per cent on top of the total amount employees are entitled to receive. The total compensation package exceeds €200,000 and includes a range of additional benefits for participants.
Under the scheme, the maximum compensation amount reaches €200,000, is tax-free, and includes additional benefits available to the first 125 employees who opt to participate.
Eligibility and calculation terms
Participation requires a minimum of five years of service, and applicants must be over 35 years old at the time the scheme comes into effect. The final compensation amount is calculated based on years of service, annual gross salary, age factor, and tenure.
Scope and restructuring context
The programme is being applied for the first time to all staff, including employees from CNP, the former Eurobank Cyprus, and the former Hellenic Bank. The scheme forms part of a broader organisational restructuring following the merger with Hellenic Bank and CNP Insurance.
How do you think extended deadlines affect employee participation in voluntary exit schemes?
