Greek Finance Ministry surprised employees at state-run enterprises with wages cuts of 25% to 35%, retrospective as of November 1st, 2011. The announced came with a circular issued on Thursday morning and affects thousands of employees at enterprises like power company DEH, water company, the post, Piraeus port and many other whether they are dealing at the Athens stock Exchange or not. The measure aims to meet targets set in the Budget 2012.
The new wages have to have a maximum cap of €1,900 gross per month after the cuts.
Higher salary cap for the chief executives in state-run-enterprises shall be 5,856.05 EUR per month. BUT with a decision of the Finance Ministry this wage is allowed to exceed the cap and … get doubled. (source: Capital.gr)
PS Why should an SRE employee still earn 1,900 euro per month nowadays, it’s one of the many miracles in debt-rdden Wonderland Greece….
BTW: without a cap in the number of personel, the Greek state-run enterprises will remain a place to “park” voters with a nice salary and benefits…