Greek Tobacco Giant Papastratos to Give €1 Million in Shares to Workers



Papastratos HQ in Aspropyrgos, Attica. File photo

Papastratos, Greece’s largest tobacco manufacturer and distributor, announced on Thursday that it will give shares worth a total of €1.0 million in its parent company Philip Morris International to its workers.

In the statement, the Papastratos company said that it chose this way to award its workers for their exceptional performance and the large profits the company saw in the commercial sector during 2018.

Papastratos also noted that its workers helped to achieve the successful transformation of its production unit into an exclusive production center for IQOS products, which are for vaping.

After the distribution, all workers, regardless of position, wage or time of service, will have received shares worth more than €1,000 each in Philip Morris International. Board members will abstain from this distribution, and offer their own shares to the workers of the company.

The Papastratos company is well-known in Greece for its exceptional relationship with its workers, as it often provides them with extra bonuses, benefits and other perks. It was also awarded the title of Greece’s top employer for the year 2017.

With information from A.M.N.A.