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.
Retail Retail Trade, Except Of Motor Vehicles And Motorcycles Retail Sale Of Food, Beverages And Tobacco In Specialised Stores 47.26 - Retail sale of tobacco products in specialised stores
160 jobs Number of planned job creations
Announcement Date
16 May 2019
Employment effect (start)
16 May 2019
Foreseen end date
30 June 2019
Description
Papastratos, the largest tobacco company in Greece, announced the creation of 160 new job vacancies in Greece as part of a plan to boost sales and information to adult smokers over the company's new IQOS product. The company clarified that the 160 salespersons will be selected and hired by companies associated with Papastratos and this process will be completed by the end of June. These positions are extra to the already announced 400 new job positions which are part of a €300 million investment programme to transform its production factory into IQOS heated tobacco rods, ending cigarette production after 87 years of operation.
Eurofound (2019), Papastratos CMC, Business expansion in Greece, factsheet number 98000, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/98000.
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