Privatization-headed distribution network operator DEDDIE/HEDNO, a subsidiary of power utility PPC, has decided to implement employment term revisions enabling the termination of contracts of workers who, by December 31, have either qualified for pension rights and are at least 63 years of age or have turned 67 and served at the operator or the power utility for a total of at least 15 years.

The operator’s board has also decided to offer aged employees a 20,000-euro bonus as an incentive to hasten departures ahead of the privatization. This bonus will only apply for employees who take up the departure offer by December 31.

The company intends to apply this new employment rule unilaterally if workers belonging to either of the two aforementioned retirement categories do not submit their resignations by the end of 2020.

Employees will be gradually dismissed as of January 31, 2021, beginning with oldest staff members, according to the DEDDIE/HEDNO plan.

Severance pay not exceeding 15,000 euros will be offered to departing employees irrespective of whether they volunteer to retire or end up being dismissed.

Any debt owed by employees to the company will be offset with exit package amounts.

DEDDIE/HEDNO employees serving in highly specialized fields and not instantly replaceable will be exempted from the operator’s new staff exit plan and could have their contracts extended by a year with an option for an additional year for exceptional cases.