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.
Professional Services Scientific, Architectural And Engineering Technical Activities Scientific Research And Development 72.19 - Other research and experimental development on natural sciences and engineering
156 - 210 jobs Number of planned job losses
Announcement Date
20 December 2011
Employment effect (start)
20 December 2011
Foreseen end date
29 February 2012
Description
The Institute of Geology and Mineral Exploration dismisses up to 210 employees after its merger with other scientific bodies.
According to the announcement of the Minister of Environment and Energy (December 20th 2011), due to reorganization and mergers of public sector scientific organizations, the Institute of Geology and Mineral Exploration (IGME) is reducing its staff level by more than 50%. As such, between 156 and 210 employees will become jobless.
The IGME in its present form was founded in 1976. Its main purpose is the research and study of the geological structure of the country, the identification and assessment of minerals and energy raw materials, research and exploitation of groundwater resources and the assessment of risks from natural disasters. Its aim is to improve quality of life and environmental protection.
IGME is a Legal Entity of Private Law, supervised by the Ministry of Environment and is official state adviser on geo-science, minerals and energy raw materials.
Sources
4 January 2012: Thema
28 December 2011: Kerdos
Citation
Eurofound (2011), Institute of Geology & Mineral Exploration, Merger/Acquisition in Greece, factsheet number 72968, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/72968.
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