PPC staff may exit the utility immediately

The way has opened for the departure of the first 150 Public Power Corporation employees who can retire up to December 31, also with the consent of their union.

At a meeting on Thursday between PPC chief Giorgos Stassis and GENOP union representatives, it was agreed that the decision of the previous PPC management for the departure of employees who qualify for retirement can come into immediate effect rather than wait until the end of the year, as had been foreseen.

The meeting with GENOP reached an agreement on bringing forward the departure of those workers with the promise of severance pay of 20,000 euros each, instead of the 15,000 euros foreseen by the previous PPC management.

This voluntary exit scheme led to the departure of 220 workers from PPC last year, with up to 180 expected to follow this year. Projections put the number of such departures at some 300 workers in 2020.

According to GENOP sources, next year, the voluntary exit program will run alongside the program for the withdrawal of lignite-powered plants to be agreed with the country’s creditors, all in a bid to streamline the power giant.