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.
OTE group has announced a new plan of voluntary redundancies. Applications started on 15 March 2019 and finished on 29 March. The voluntary exit programme is divided in two categories. The first concerns employees near the retirement age (up 7 years before), about 1,227 people, and the second refers to employees of over 40 years old with 10 years of experience in the organisation, about 150 persons. The restructuring programme aims to cut 1,377 positions in total so as to reduce operating costs. In 2018, the company had a similar voluntary exit programme and dismissed 320 people.
UPDATE 09/04/2019: Until April 2019, 750 employees have applied to participate in the voluntary exit programme.
Eurofound (2019), OTE Group, Internal restructuring in Greece, factsheet number 98189, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/98189.