Cyprus applications pending redundancy reach 16,300

Applications pending for redundancy payment in September soared by 60.36% year on year to 16,308, according to the Ministry of Labour and Social Insurance, compared to 16,204 in August and 10,793 in September last year.
A total of 775 applications were submitted in September, of which 541 were approved and 130 rejected. The Labour Ministry disbursed €6.64 mln in redundancy payments.
The Redundancy fund received a total of 10,940 applications in the first nine months of 2013, of which 4.637 have been approved and 1,052 rejected paying out a total of €41.71 mln.
The Labour Ministry hired 45 unemployed university graduates to undertake the increased workload.
Labour Minister Zeta Emiliandes has said that the Ministry aims at examining by the end of the year the applications which have been pending for more than 18 months and to pay redundancy applications that will be approved. Social Insurance services announced they are currently examining the applications submitted in March 2012.