IMF urges EPS to layoff 700 employees in 2017 – Serbia, 19 September 2017

The International Monetary Fund (IMF) has urged the Serbian Government to layoff 700 employees of state-owned power utility EPS until the end of the year in order to cut costs of the company.
According to Serbian newspapers, main topic on the agenda of the meeting between Serbian Minister of Mining and Energy Aleksandar Antic and the head of IMF mission to Serbia James Roaf was the production decline in the Serbian energy sector. Under the previously agreed restructuring plan, EPS has to layoff about 5,000 employees by 2020, of which 1,900 were laid off last year, while this year’s batch of 700 employees to leave the company has not been realized yet.

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