voluntary exit plan

HEDNO decides on voluntary exit plan with €20,000 bonus sum attached

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Distribution network operator DEDDIE/HEDNO’s board has decided to offer employees aged 60 and above a voluntary exit package this year that includes bonus compensation pay of 20,000 euros.

This bonus sum will be offered to exiting staff members as long as certain prerequisites are met, in addition to a maximum amount of 15,000 euros required by law.

DEDDIE/HEDNO staff eligible for the bonus compensation amount will need to be aged 61 or over and have acquired pension rights; turn 60 years of age within 2023 and have acquired pension rights; or be aged 67 and backed by at least 15 years of employment at either DEDDIE/HEDNO or its parent company, power utility PPC.

Employees belonging to the first of these three categories will receive a bonus compensation amount of 20,000 euros if they voluntarily resign by July 31, 2023. As for the second and third categories, workers will receive the bonus compensation amount if they exit the company by December 31, 2023.

DEDDIE/HEDNO plans to soon begin procedures to recruit 1,400 new employees by June, the company’s chief executive, Anastasios Manos, has informed.

The employee renewal program is needed as the operator has undertaken network development projects for the coming years to support the country’s RES objectives, Manos has explained.

Just one staff renewal program has been carried out by DEDDIE/HEDNO between 2012 and 2019, which has resulted in 158 hirings but remains unfinished, the chief executive said.

DEDDIE board moves to reduce workforce ahead of privatization

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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.