HEDNO, the Hellenic Electricity Distribution Network Operator, taking its cue from a recent like-minded move by parent company PPC, the main power utility, aims to terminate the work contracts of pension-aged employees who have chosen to keep working.

The board at HEDNO, locally acronymed DEDDIE, reached the decision at a meeting five days ago.

The measure, to apply for HEDNO staff members eligible for pensions by December 31, will impact employees aged between 60 and 65. Retirement ages will be determined by the status of work positions and social security funds of workers.

According to HEDNO, pension-aged staff members who meet the retirement criteria and offer their voluntary resignations by February 28, 2018, will receive severance pay of 15,000 euros if they have submitted related applications by January 31, 2018.

HEDNO has decided to reserve the right to unilaterally terminate the contracts of pension-aged staff members who refuse to submit voluntary resignations. These layoffs will begin as of March 31, 2018, according to HEDNO.

At parent company PPC, a total of 310 pension-aged staff members took up the voluntary retirement offer to receive 15,000 euros. Employees were given until the end of June to submit their applications for this voluntary retirement offer.