Press Release: Commission authorises state aid for the voluntary redundancy scheme of Olympic Catering

On 14 October 2009 the European Commission decided not to raise any objections to the plans of the Greek authorities to cover part of the costs of the voluntary redundancy scheme that Olympic Catering SA plans to implement in respect of certain of its staff. The Commission considered that the proposed measure, which pays part of the abnormal costs of the scheme, does not prejudice the common interest and can be considered compatible with the common market. The abnormal costs in question result from certain Olympic Catering staff taking part in an early retirement voluntary redundancy scheme. These staff members enjoy a permanent status and salaries which were negotiated when the company was a state-owned undertaking and are therefore not comparable to normal market conditions.

• Primary Source