Friday Jul 25, 2014 Search
Weather | Athens
32o C
23o C
News
Business
Comment
Life
Sports
Community
Survival Guide
Greek Edition
Greece's OPAP offers voluntary redundancy scheme

Greece's betting monopoly OPAP has begun a voluntary redundancy scheme for about three-quarters of its staff to cut costs, one of its biggest unions said on Thursday.

OPAP, one of Europe's largest betting companies, declined to say whether it was offering the scheme, which will mainly affect its retail network supporting services, according to a document outlining the program seen by Reuters.

Greece sold a majority stake in OPAP to Czech-Greek fund Emma Delta last year, marking the country's first major privatization under its European Union/International Monetary Fund bailout.

The voluntary redundancy program will run from June 30 to July 15 for about 656 people, union leader Christos Kakouratos told Reuters. OPAP's staff totals about 900 people.

Since taking over in October, the new management has said it will go ahead with plans to launch a video lotto business in the country as well as to cut distribution and staff costs.

OPAP, which offers sports betting and lotteries through about 5,000 agents in Greece and Cyprus, had revenues of 3.7 billion euros ($5.05 billion) last year. Staff costs accounted for about 1.5 percent of that amount. [Reuters]

ekathimerini.com , Thursday Jul 3, 2014 (15:31)  
Aegean Airlines resumes flights to Tel Aviv
Draghi safety net becoming blindfold as bonds soar
Illegal betting worth 5.5-6 billion euros
Wait is still on for many taxpayers
Police report points to less crime in 2014
Crimes rates dropped in the first semester of 2014 compared to the previous year, according to a police report released on Thursday. The report showed that there were 52 cases of manslaughte...
PPC to look into death of disabled customer
The Public Power Corporation (PPC) launched an administrative inquiry on Thursday into why electricity supplied to the home on Crete of a quadriplegic customer on life support was cut, resul...
Inside News
TRACK & FIELD
Athens, the Marathon capital of the world for good
Paco Borao, the man who restored Athens as the Marathon capital of the world with the establishment at the Olympic Sports Center of the headquarters of the International Association of Marat...
TRACK & FIELD
Pole vault record on same day as three doping cases
Greek track and field had a mixed weekend, as on the same day as Katerina Stefanidi matched the national record in pole vault as well as the leading result in Europe so far this season, thre...
Inside Sports
COMMENTARY
Forty years of shortsighted party policies
It is 40 years since the restoration of democracy, and the two main parties which were established in 1974 and determined the countrys fate since then are unable to act their age. For decad...
EDITORIAL
Putting the past behind us
Democracy was restored in Greece 40 years ago and the country owes a debt to Constantine Karamanlis for handling the transition and anchoring the country firmly in the safe port of Europe wi...
Inside Comment
SPONSORED LINK: FinanzNachrichten.de
SPONSORED LINK: BestPrice.gr
RECENT NEWS
1. Aegean Airlines resumes flights to Tel Aviv
2. Draghi safety net becoming blindfold as bonds soar
3. Police report points to less crime in 2014
4. Illegal betting worth 5.5-6 billion euros
5. Wait is still on for many taxpayers
6. Hardouvelis to push for milestones target
more news
Today
This Week
1. Draghi safety net becoming blindfold as bonds soar
2. Aegean Airlines resumes flights to Tel Aviv
3. Police report points to less crime in 2014
4. Quadriplegic woman on life support 'dies due to unpaid power bills'
5. Efforts continue on Crete to find 'Sifis' the crocodile
6. Democracy 'retreated' during crisis, says Papoulias
Today
This Week
1. Greece seen in third bailout as bonds not enough, economists say
2. Climber dies in Mount Olympus fall
3. Greek sovereign debt at 174.1 percent of GDP in first quarter
4. Greek banks able to tap investors after stress tests, HFSF Says
5. Unequal after death
6. Death on MH17 and our global war
Find us ...
... on
Twitter
... on Facebook
About us  |  Subscriptions  |  Advertising  |  Contact us  |  Athens Plus  |  RSS  |   
Copyright 2014, H KAΘHMEPINH All Rights Reserved.