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Wednesday, 3 November 2004
+++ Voluntary redundancy program +++
In reply to certain articles in the Press regarding
INTRACOM's Voluntary Redundancy Program, the Company announces:
Within the framework of our international orientation
and our continuous efforts to enforce INTRACOM's competitiveness, among
other actions, the Company decided to carry out a Voluntary Redundancy
Program, aiming at decreasing its personnel.
The program is already in action since the 1st of November
2004, it will end on the 30th of November 2004 and it concerns only the
parent company.
This program, in which the participation is optional,
refers to all the employees who work in the company for more than 2 years
and have employment agreement of indefinite duration. It provides the
opportunity to those employees who will apply for the termination of their
employment relation, to resign from the company with beneficial terms,
under the condition that the company will accept their application.
The motivations for resignation focus, in particular,
on the lowly paid employees, those with many years of employment in the
company and those of an older age. More specifically the program includes:
a. The compensation that the employee would receive
according to the Law 2112/1920, increased by an additional payment which
starts at 3,500 € and increases on the basis of age and years of
employment in the company, up to 17,000 €.
b. Participation in an insurance program which includes
medical and hospital coverage of the employee who resigns, as well as
for his/her proteges, for one year from the resignation date.
c. The ability to participate in a program of personnel
outplacement that will be undertaken by a company specialized in this
area.
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