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.
Hellenic Petroleum (ELPE), Greece’s biggest oil refiner, is to cut 300 jobs, at its sight in Attica, by means of voluntary redundancies.
As announced, ELPE will offer a voluntary redundancy scheme to 300 employees, mostly administrative personnel, (which is about 8% of its total workforce) at its sight in Aspropyrgos (Attica) in order to downsize costs and boost competitiveness. The deadline for applications expires in the end of October 2013.
ELPE has 4,000 employees, 80% of whom are based in Greece (2,900). It runs refineries and petrol stations across southeast Europe and is 35.5 pc state-owned.
As reported, the Greek government plans to sell its stake as part of the country's privatisation plan under the terms of its EU/IMF bailout funds support.
Eurofound (2013), Hellenic Petroleum, Internal restructuring in Greece, factsheet number 75935, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/75935.