STAR refinery to be commissioned in October - Turkey, 21 May 2018  |  Government to speed up construction of gas link to Bulgaria - Serbia, 21 May 2018  |  Hidroelectrica’s 2017 net profit increased by 11 % - Romania, 21 May 2018  |  Gas imports increased by 14.2 % in Q1 2018 - Romania, 21 May 2018  |  EPCG and Ivicom signed MoU on the construction of Gvozd wind farm - Montenegro, 21 May 2018  |  Pljevlja coalmine recorded lower profit in Q1 2018 - Montenegro, 21 May 2018  |  Alteo Group recorded higher revenues in Q1 2018 - Hungary, 21 May 2018  |  HEP plans to invest 500 million euros in HPP Kosinj-Senj project - Croatia, 21 May 2018  |  ICGB launched tender for archeological study along IGB pipeline route - Region, 21 May 2018  |  Government plans to lower fuel tax - Turkey, 18 May 2018  |  Petrol’s net profit increased in Q1 2018 - Slovenia, 18 May 2018  |  Fintel Energija to invest 300 million euros in the next five years - Serbia, 18 May 2018  |  Srbijagas to build two new gas storages in the next five years - Serbia, 18 May 2018  |  Corina Popescu to be named General Manager of Electrica Muntenia Nord - Romania, 19 May 2018  |  Ministry still pushing for the distribution of 90 % of Transgaz’ profit as dividends - Romania, 18 May 2018  |  Bucharest City Hall to merge RADET and ELCEN under single company - Romania, 18 May 2018  |  11 companies expressed interest in leasing Trans-Balkan gas pipeline capacity - Romania, 18 May 2018  |  Hidroelectrica to distribute 90 % of last year’s profit as dividends - Romania, 18 May 2018  |  Supplier surcharge to be reduced by 50 % by 2020 - Greece, 18 May 2018  |  First round of ELPE privatization tender to attract 5-6 major companies - Greece, 18 May 2018

EPS to layoff 5,000 employees by 2019 – Serbia, 16 June 2017

CFO of Serbian state-owned power utility EPS Tatjana Pavlovic said in an interview that utility has undergone several organizational changes and currently it operates through two companies – EPS and EPS Snabdevanje and, in accordance with the agreement with the International Monetary Fund (IMF), it plans to layoff a total of over 5,000 employees by the end of 2019.
Pavlovic said that the company is currently working on a program for incentives for laid off employees. The criteria should be identical as last year, but negotiation with the World Bank on implementing some new criteria are ongoing. Thus, the number of employees would be reduced by more than 5,000 by the end of 2019, as it was defined in the program for financial consolidation of the company.

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