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.
Odikes Sygkoinonies (OSY), the main Greek operator of thermal and trolley buses in the metropolitan area of Athens, announced 112 job cuts.
According to various media sources, OSY announced the dismissals of 112 employees such as bus drivers, guards, etc. The dismissals will take place between April 1st and May 31st 2014. The reason behind this decision is, according to the media, the false or forged educational certificates that these employees had provided to the company. From 1st of April, 77 dismissals and 12 resignations have taken place. An additional 35 employees will be dismissed before the 31st of May.
The company ODIKES SYGKOINONIES SA (“OSY”) resulted from the merging of ETHEL SA and ILPAP SA. OSY S.A. is a subsidiary company of OASA and operates transport services provided by trolley buses in the metropolitan area of Athens. The company employs 6183 people.
Eurofound (2014), OSY, Internal restructuring in Greece, factsheet number 77000, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/77000.
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