PPC, reducing workforce, boosts voluntary exit plan bonus by €2,000

Power utility PPC, looking to decrease its workforce by some 3,800 persons, from 15,300 to 11,500 employees until 2024, has increased the bonus payment offered through its voluntary exit plan by 2,000 euros to 7,000 euros.

No employees will be dismissed nor will salaries be cut, the power utility’s chief executive Giorgos Stassis promised during a weekend visit to Ptolemaida, west Macedonia, in the heart of northern Greece’s lignite-dependent area.

PPC is planning to withdraw all existing lignite-fired power stations over the next three years as part of the government’s decarbonization plan for the country.

Under the current PPC retirement plan, departing staff members receive a 15,000-euro payment, not including the bonus amount.

The PPC boss, speaking at an event staged by local authorities in the west Macedonia region, stressed company employees will be provided alternatives. Options will include transfers to other company divisions, retraining as well as voluntary exits for staff eligible for retirement, Stassis explained.

PPC is awaiting a finalized business plan from McKinsey to decide on the exact number of its staff exodus.