Sri Lanka, May 29 -- The Ceylon Bank Employees' Union says it has decided to withdraw from services in protest against the decision to reduce employee bonuses.

The union announced that it would launch a token strike on June 6 if its demands are not met.

Commenting further on this matter, a member of the Union said the Bank of Ceylon (BOC) recorded the highest-ever profit by a Sri Lankan institution in 2024, amounting to Rs. 107 billion and a majority of the profits were transferred to the treasury.

He also noted that, "However, the Ministry of Finance has not taken steps to approve the incentive allowance decided upon by the Bank of Ceylon's management and board of directors. Nor has it implemented the agreements reached with two Deput...