Restructuring events
European Restructuring Monitor (ERM)
The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
The Bulgarian thermal power plant "Contour Global Maritsa East 3" will shut down. It will result in the dismissal of about 30% of the staff in TPP "ContourGlobal, or 160 persons.
The power plant will switch to seasonal operation. It ceased operation temporarily at the end of February 2024 due to unfavourable costs of coal.
The dismissed employees will receive between 6 and 10 monthly wages and will be registered in the Labour Office. There, according to their seniority, they will take 60% of their previous earnings for up to one year. The unemployed will have the opportunity to start training and re-training courses funded by the Human Resources Development Programme. In this way, they can find a job, including in the new projects of the "ContourGlobal Maritsa East 3" power plant. The management of the power plant expects it to be operational again in the second half of the year.
Eurofound (2024), Contour Global Maritsa East 3, Closure in Bulgaria, factsheet number 200994, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/200994.