Greek Company Gives 3 Million Euros in Bonuses

Karelias Tobaccos(Greece) – A Greek tobacco company, Karelias, has awarded its 487 employees with bonuses of more than 3 million euros. The bonuses, which were distributed amongst the employees, were made to help them celebrate having had a successful year. Andrea Karelias, the CEO of the company, said during a press conference this past Tuesday, “The bonuses and benefits – the highest in the history of the company- come to seal a successful year in which the Karelia SA had an 17% increase of turnover.” He went on to say that despite the uncertain political environment in 2015, capital controls, austerity, and a competitive business environment, the company has made a substantial profit. 

There are several bonuses and benefits that company workers will enjoy. First, each employee is to receive two payments – one total 200 euro and the other totaling 800 euro, for a total of 1000 euro paid out to every employee. There will also be financial assistance awarded of 1400 euro to each employee who has a child studying at a state run university or also a professional college. Those who have children who have taken the exams and have placed in one of the colleges or universities but who have not started yet will receive 500 euros as well as a laptop to give to the new student. Employees who earn over 1700 euro will receive additional money of 800 euro, while those who earn between 1200 – 1699 euro a month will get a bonus of 1500 euro. Those who earn under 1500 euro a month will receive a bonus of 2500 euro. Workers who have children will also receive additional funds depending on the child’s age and their salaries. The company will cover the taxes and deductions for these bonuses so that employees can enjoy the full amount.

Karelia Fine Tobaccos is the oldest tobacco company in Greece and last year, they increased its market share. During the press conference, CEO Karelias also said that, “Last year the company hired 34 people and made an investment of 3.5 million to increase production capacity.” The company looks to future expansion and plans to export out of the country in 2016.


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