Greece’s National Bank pours pure gold on its employees in order to persuade them to exit voluntarily their work place forever: extraordinary generous compensation, bonuses for their children. medical insurance and fixed rates on mortgages.
According to a circular sent ot the bank employees the offer for voluntarily exodus is:
either a compensation worth of up to 42 monthly gross wages or two years paid leave (28 months program).
the basic compensation will be increased according to age criteria as the bank wants to refresh its personnel
An extra 20% on the compensation for employees working at bank branches that will close down
Extra €5,000 bonus for those with minor children
If they have mortgage: uncharged rates for 15 years
those who leave but cannot go into retirement, the bank offers medical and hospital coverage for 2 to 5 years.
The program scheme addresses all categories of employees with employment contracts of “indefinite time” and lawyers, bank staff working at subsidiaries in Greece or abroad.
Minimum precondition for the participation in the program is that the employee has completed the thirtieth year of age and three years of service (two years for salaried lawyers) as of November 30th 2016.
Beginning of 2016, target of the National Bank was to get rid of 4,349 employees and close down 180 branches.
If think that the National Bank is much too generous in times of economic crisis, take into consideration that it have 150,000-200,000 euro lump sum for those going into early retirement with 25 years of service after the crisis broke out in 2010.
In past decades, National bank employees were able to secure work places for their children.
Now the compensation for voluntarily exit could be just 180,000 euros, I read somewhere on the internet last week and that the bank was targeting 1,500 employees.
PS I hope, the National Bank will not ask us for more recapitalization in 2017.
Absolutely beggars belief!!