There are two targeted employment programmes for LARCO employees whose contracts expire on May 12.

"For those over 55 years of age, we provide the opportunity to work up to 7 years in municipalities and regions in order to meet the necessary requirements for retirement. Special provision is also made for those up to 54 years of age, for whom we have secured two years' work in public sector bodies." This was stated by the Minister of Labor and Social Security, Domna Michailidou.

Michailidou stressed that this decision "is part of the package of measures undertaken by the government to provide LARCO employees with a second professional opportunity and the opportunity to upgrade their skills in subject areas of their specialties." 

The Joint Ministerial Decision was signed by the Ministers of Labour and Social Security, Development, Environment and Energy, Health, Interior, Education, Religious Affairs, and Sports, the Deputy Ministers of Interior and Health, and the Deputy Minister of National Economy and Finance. 

It is noted that last March, the relevant ministries of Economy and Finance, Environment and Energy, and Labour and Social Security decided to implement a package of interventions to support the employees of LARCO on the one hand and to protect Greek taxpayers who have been burdened with several billion euros on the other. Indeed, the Greek state has been condemned by the European Court of Justice for illegal state aid to the company.

Larco, which has been under Special Administration since February 2020, following a decision by the Athens Court of Appeal due to its inability to repay accumulated debts, has ceased to operate in recent months. During this period (from 2020), the employees' salaries are covered by the state at a cost that has so far exceeded €100 million.