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.
Hellenic Telecommunications Organization, the biggest telecom provider in Greece, launched an exit scheme for 186 employees.
Hellenic Telecommunications Organization (OTE) announced at the beginnings of September its plans to close 77 OTE Shops and 61 customer service points. Management reportedly proposed to 186 affected employees exit incentives, with the compensation ranging from €17000 to €103000. Alternatively, the employees could leave for two years and receive 50% of their payroll. The sources say that the employees that do not accept either option will be relocated to other positions within the group.
Hellenic Telecommunications (OTE) is still the biggest player in Greece. OTE, has about 7 million fixed access lines in service and provides local, long-distance, and international telephone calling. It also offers broadband Internet services (through ISP OTEnet) to more than 800,000 residential and business customers. Other wired services include leased lines, data hosting, and wholesale telecom services. Subsidiary Cosmote provides wireless service to more than 6 million subscribers on its GSM-based network. OTE's international holdings include subsidiaries in Albania, Bulgaria, Romania, and Serbia.
Sources
2 September 2011: Kathimerini
8 September 2011: Ethnos
Citation
Eurofound (2011), OTE SHOPS, Closure in Greece, factsheet number 72379, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/72379.
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