A large number of the CSE temporary employees are likely to be dismissed by the Cyprus Stock Exchange, sources told StockWatch on Tuesday. The Finance Ministry is examining a relevant CSE memo on the employment prospects of the temporary employees for some time now. The memo stresses the need to review the future of the extra temporary employees under the new conditions prevailing, after the CSE slump and the low trading volume.

The same sources reveal that the CSE management has already taken its preliminary decisions on the issue, which will be fully clarified following the completion of the CSE development program, to be announced in the next few days. The CSE development program includes the new organic structure of the CSE, pursuant to which some services must be abolished or merged for the sake of flexibility and for cost cutting. A CSE official asked by StockWatch to comment on the issue, said that the current conditions in the CSE do not allow the employment of all temporary employees.