The Fourlis Group is implementing a voluntary early retirement program as part of a broader organizational restructuring currently underway, which calls for the centralization of key functions through the creation of a unified retail platform.
Consultations with the unions have been completed, and staff have been internally briefed; the goal is for those who choose to participate in the program to have left by the end of August.
The voluntary program applies to employees in administrative and support roles affected by the new organizational structure. Conversely, it does not include front-line staff in stores, nor employees in critical supply chain functions, according to sources familiar with the matter.
According to information from Euro2day.gr, the program “affects” approximately 250 employees—that is, 10% of the group’s total workforce—but as sources familiar with the matter note, this figure does not reflect the number of departures ultimately expected, as participation in the program is voluntary and will depend on how many employees accept the voluntary redundancy offer.
“Some employees will be asked to move to new organizational structures or take on different duties, while those who do not wish to adapt to the changes will be offered the option to participate in a voluntary retirement program,” other sources note.
The voluntary program includes the payment of an extra package equivalent to more than two years of net salary, while additional benefits are provided, among other things, for employees nearing retirement.
The total cost of the program and its details have not been officially disclosed, a move expected to take place tomorrow during Fourlis’s annual general meeting. The cost will be recorded as an extraordinary expense in the 2026 financial results, while it is estimated that the restructuring will yield significant recurring benefits starting in 2027 and beyond. According to projections, for every 10 euros of one-time expense, an annual benefit of approximately 7 euros is expected in the coming years.
The plan, however, has sparked backlash. The Federation of Private Employees of Greece (OIYE), in a statement, argues that the planned changes may lead to staff reductions, intensified workloads, and an expansion of flexible forms of employment.
At the same time, it links the reorganization to the implementation of the Agile work model within the group and expresses reservations about its impact on working conditions, as well as on the health and safety of employees.