Power utility PPC has decided to soon hire a consultant to help shape a voluntary exit plan for employees working in the corporation’s lignite sector, set to gradually wind down as a result of the country’s decarbonization policy.
The consultant’s efforts will focus on the structure of the voluntary exit plan, its incentives, timing and extent within PPC’s workforce, not including employees eligible for retirement and workers to be transferred to other company units.
PPC plans to appoint a consultant in the immediate future with the objective of announcing the full details of its voluntary exit plan towards the end of this year.
PPC’s voluntary exit plan is intended to stretch over a number of years as a gradual process aligned with the decarbonization effort.
Severance payments, according to a company announcement made several months ago, currently total 22,000 euros per employee.
PPC’s objective is to reduce its workforce to 11,500 by 2024 from 15,300 at the end of 2019, according the company’s new business plan.
The Amynteo lignite-fired power station in Greece’s north is at the top of PPC’s withdrawal list, but it now remains unclear when this exit can take place.
Amynteo was originally scheduled to be withdrawn by April 30, tomorrow, but this exit may be postponed until next year. The completion, by local authorities, of regional projects securing telethermal services is a key factor. PPC is currently awaiting an update on these projects.