Successive meetings for the future of Greeceās two defense industries, EAS and ELVO, were held on Aug. 27, led by Finance Minister Yannis Stournaras.
Time is limited, and decisions about what happens to the companies have to be taken by the end of the month. There are two prevailing scenarios: firing 500 of the 850 workers at EAS and liquidating ELVO without layoffs.
For Hellenic Defense Systems (EAS), it was reported that the department handling civilian contracts would be shut along with its factories and the government would take over its military section.
As far as ELVO is concerned where 350 people work, a liquidator will be placed immediately, in order to begin erasing debts and selling assets but the workers will be kept, although it wasnāt explained what they would do.
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