PPC SA

Type
Internal restructuring
Country
Greece
Region
Voreia Ellada; Dytiki Makedonia; Kozani
Location of affected unit(s)
Sector
Mining / Quarrying
Mining And Quarrying
Mining Of Coal And Lignite
05.2 - Mining of lignite
1,200 jobs
Number of planned job losses
Job loss
Announcement Date
30 July 2021
Employment effect (start)
1 September 2021
Foreseen end date
30 October 2021

Description

On July 30, 2021, the Public Power Corporation S.A. (PPC) launched a voluntary redundancies programme, by providing financial incentives to older employees in view of the imminent closure of lignite plants (mines and stations).

The early retirement programme is addressed to 1283 employees over 51 years with at least 15 years of service. It is estimated that about 500 employees will join, mainly those over 55 years of age for whom the incentives are higher. The maximum amount that an employee can receive by participating in the voluntary exit programme will be around 57,000 euros.

Sources

Citation

Eurofound (2021), PPC SA, Internal restructuring in Greece, factsheet number 105178, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/105178.