A draft bill unveiled this week by the relevant environment and energy minister foresees the abolition of tenure for new hires at the state-run Public Power Corp (PPC), which is still the dominant electricity provider in the country despite posting nearly a billion euros in accumulated losses over the past two years.
In a bid to contain operating costs, the draft bill also includes a provision for voluntary retirement, a significant reduction in the discount rate offered to employees and even PPC pensioners, and the hiring of top management with more flexible procedures.
The average age of PPC's workforce today is 52, with current hiring procedures taking up to three years. The new framework envisioned in the draft law simplifies the process, and will include PPC's subsidiaries.
