The countdown has begun for the end of an era at the historic NOTOS department store at the intersection of Aeolou and Stadiou Streets in Omonia. The permanent closure on August 31 has opened the most difficult chapter in this story: the layoff of 180 employees.
Just a few hours ago, another tense meeting between management and employees concluded in a deadlock, with the company sticking to the proposal it had presented about two weeks ago. The plan, which will be submitted for tripartite consultation at the Ministry of Labor, provides for layoffs in two phases, with additional severance pay under specific conditions.
According to sources familiar with the matter speaking to Euro2day.gr, the company, in addition to the statutory severance pay, is offering two extra months’ salary only to those who leave by the end of June and have at least 10 years of service at NOTOS. For those who remain until the final closure at the end of August, an additional month’s salary is provided in addition to the statutory severance pay. There is also a provision for a bonus, the payment of which will depend on whether the store is profitable during the two-month period of July-August. If this occurs, the bonus will be 3% of the profits.
For those nearing retirement, the company’s proposal applies to employees over 58 years of age who have “fictitious years” of insurance coverage, which management appears willing to cover.
The proposal excludes a large number of employees aged 57 and older, who either do not have fictitious years or are unable to self-insure until retirement.
The atmosphere is further strained by the fact that a significant portion of the staff has been working for years on a part-time basis with low wages, which, according to employees, range between 650 euros net or 800 euros gross. At the same time, many argue that the company’s proposal essentially fails to recognize the long-standing service of employees who have worked at the department store for 20, 30, or even 40 years.