Restructuring events
European Restructuring Monitor (ERM)
The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
In May 2005, the management of Greece's OTE telecommunications group signed a controversial enterprise-level collective agreement with the OME-OTE trade union. The deal provides a change in the status of OTE employees. New recruits will no longer enjoy a special permanent status and instead they will be employed on the basis of normal employment law. Simultaneously, at the end of June the parliament passed legislation on a voluntary exit scheme for OTE staff, laying down the terms and conditions for the early retirement of a large number of employees. According to a rough estimate, the number of such employees, aged 49 and over, is around 6,200. In late October 2006 a new voluntary exit scheme affecting some 700 employees was announced.
Eurofound (2006), Hellenic Telecommunication Organizattion (OTE), Internal restructuring in Greece, factsheet number 64430, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/64430.