Closure of the Conitech Imas S.A. plant in the central Greek city of Volos was announced by the company’s management to employees this week, weeks after a voluntary retirement plan had been announced.
The company, a wholly owned subsidiary of the German multinational Continental AG, had announced the staff reductions in January, leading to 52 out of the 60 eligible full-time employees to take the early exit package. Lay-offs, followed by workers’ rallies and meetings between representatives of workers and a state-run labor arbitration agency followed.
The plant’s closure was announced on Monday, with severance pay due to 140 workers, plus 40,000 euros per employee, based on the previously announced retirement package.
The plant manufactured various types of conveyor belts and other elastic materials.
