ATHEX-listed Eurobank, one of four systemic banks in Greece, will commence an early retirement/departure plan on Monday, with the goal being a 10% reduction in its workforce, or roughly 400 employees.
Eurobank, Greece’s largest lender by market capitalization, referred to the prospect of hirings of younger professionals, in announcing the program. As with previous such initiatives, employees closer to a retirement age are the foremost candidates, i.e. those born before 1972. Successful applicants for the early retirement program will cease employment with the bank at the end of 2024.
The maximum foreseen severance package is 160,00 euros, allow actual payouts depend on number of years of employment with the bank and the applicant’s age.
Another option is a sabbatical program that’s linked with a portion of the severance pay and monthly compensation for the period of the absence, which can reach two, five or seven years.
Another feature of the plan is guaranteed medical and pharmaceutical coverage for five years, along with an added four months of pay for each child dependent up to the age of 22.
Source: tovima.com
Latest News
Developing the Blue Carbon Economy in Greece
Can Greece make money by protecting its marine environment?
EIB Appoints Greece’s Ioannis Tsakiris as New VP
Ioannis Tsakiris started the new role May 1 after spending 15 years at the European Investment Fund (EIF) and serving as Greece’s Deputy Minister for Development and Investments
Two Greek Beaches in Top 50 in the World
Both Greek beaches were on the list of the best beaches in Europe too
Eurostat: Greece 20th out of 26 European States in Hourly Average Wage
According to figures released by Eurostat, the Benelux Grand Duchy of Luxembourg, one of Europe’s hubs for finance, is in first place
Greek Property Renovation Surge amid Economic Constraints
This has led to a notable escalation in renovation costs, with average prices per square meter exceeding previous norms and reaching even 1,000 euros in premium locations
RRF: Additional €5.1bln Funds for Subsidies to Greece in 2025
By April 22, funds totaling 5.75 billion euros had been transferred for approved projects of the Recovery Fund to entities within and outside the general government and final recipients
OECD: Greek Economy Resilient with 2% Growth Forecast for 2024
However, the OECD highlights challenges including the need to enhance productivity and fiscal adjustment due to high debt levels.
Challenges and Delays in Greece’s Hydrocarbon Exploration
Sources disclose that the petroleum companies holding the concessions are seeking partners to jointly invest and share the costs of exploration and drilling.
Greek Beach Visitors Can Report Violations on New ‘MyCoast’ App
Greek authorities hope the newly-launched, free ‘MyCoast’ app will help clamp down on public beach violations
BoG Figures Confirm Banner Year for Greek Tourism in 2023
20.6 billion euros in related revenues topped the previous year’s figure by 16.5%