PPC’s latest voluntary exit plan reaches success rate of over 80%

A total of 437 power utility PPC employees have registered for the corporation’s latest voluntary exit plan, limited to staff members over the age of 55, which makes the offer, expiring today, available to approximately 500 persons.

Based on these figures, the success rate of PPC’s latest exit plan, until yesterday, was well over 80 percent.

The total number of voluntary employee exits could reach 450 by the time the offer’s deadline expires later today.

Besides a compensation amount of 15,000 euros for each exiting employee, the program also includes 20,000-euro bonus payments, taking the total package to 35,000 euros for departing staff members.

Approximately 1,300 employees left PPC in 2019 through the voluntary exit plan. The total figure for 2020 is expected just as high, if not higher.

If so, this would take PPC over the half-way mark in its overall voluntary exit strategy. The company has set an overall target of 4,500 departures, according to the latest PPC business plan. PPC also intends to refresh by recruiting 800 new employees.

PPC’s payroll cost has fallen by 45.1 million euros, from 419.3 million to 374.2 million euros, the company announced in its first-half results.