Serbia - Impending job cuts at power utility EPS - August 31, 2016

The government is under growing pressure to undertake job cuts of around 4500 people and pricing reforms in the country’s Electric Power Industry, EPS. Both IMF and World Bank declared the EPS a problematic topic, warning that restructuring and financially stabilising the state power utility needs to be speeded up if the enterprise is to have a future. Data revealed by the Electro distribution show that EPS is the biggest employer in the country with more than 30.000 workers. The Fiscal Council estimated a layoff between 5000 and 10000 workers if restructuration should be done properly and a World Bank representative said that salaries in EPS need to be cut by 15 per cent over the next five years, which is around 4500 people.

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