Restructuring events
European Restructuring Monitor (ERM)
The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
On 24 July 2020, PPC announced a second voluntary exit programme this year in which applicants needed to meet two prerequisites. Firstly, applicants must be turning at least 55 years of age by December 31, 2020. Secondly, they needed to have already qualified for pension rights before applying for the exit plan. Employees who sign up for the programme, will receive compensation packages totaling 35,000 euros.
PPC’s second voluntary exit program offered to employees this year has achieved a success rate of 85%, convincing 465 employees to sign up, from a target group of 550.
The total number of voluntary exits in this year (two programmes) is 1,200 persons, as compared to an initial estimate of 1,000 persons.
Eurofound (2020), PPC, Internal restructuring in Greece, factsheet number 102048, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/102048.