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.
Manufacturing Manufacture Of Coke And Refined Petroleum Products Manufacture Of Coke And Refined Petroleum Products 19.2 - Manufacture of refined petroleum products
300 - 320 jobs Number of planned job losses
Announcement Date
27 September 2013
Employment effect (start)
31 October 2013
Foreseen end date
Description
Hellenic Petroleum (ELPE), Greece’s biggest oil refiner, is to cut 300 jobs, at its sight in Attica, by means of voluntary redundancies.
As announced, ELPE will offer a voluntary redundancy scheme to 300 employees, mostly administrative personnel, (which is about 8% of its total workforce) at its sight in Aspropyrgos (Attica) in order to downsize costs and boost competitiveness. The deadline for applications expires in the end of October 2013.
ELPE has 4,000 employees, 80% of whom are based in Greece (2,900). It runs refineries and petrol stations across southeast Europe and is 35.5 pc state-owned.
As reported, the Greek government plans to sell its stake as part of the country's privatisation plan under the terms of its EU/IMF bailout funds support.
Sources
27 September 2013: Kathimerini
28 September 2013: Ta nea
28 September 2013: Ethnos
Citation
Eurofound (2013), Hellenic Petroleum, Internal restructuring in Greece, factsheet number 75935, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/75935.
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