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.
Retail Retail Trade, Except Of Motor Vehicles And Motorcycles Retail Sale Of Automotive Fuel In Specialised Stores 47.3 - Retail sale of automotive fuel in specialised stores
100 - 150 jobs Number of planned job losses
Announcement Date
28 April 2005
Employment effect (start)
1 September 2005
Foreseen end date
Description
In the last two years, MOL acquired the Romanian petrol stations business of the English-Netherlands multinational Shell in two stages: in the summer of 2003, MOL took over 23 petrol stations from Shell; this was followed by the full acquisition of Shell subsidiary in Romania in November 2004. It is estimated that the combined value of the two deals reached €73 million.
After the integration of the Shell network, which is scheduled for completion by September 2005, the consolidated management team will be restructured; MOL and Shell Romanian staff will be reduced to 130-140 people from the current 240.. After the merger, MOL will have a network of over 133 stations and will rank among the top four players on the Romanian market in terms of network size. MOL is planning to expand its Romanian retail network to 190-200 petrol stations over the next five years by investing €70 million which will see it occupy 15% of the Romanian market.The expansion programme will have three main directions: acquisition of new networks; organic growth (greenfield investment); and network swapping (with other players between regions).
Sources
28 April 2005: Ziarul Financiar
Citation
Eurofound (2005), MOL, Merger/Acquisition in Romania, factsheet number 61518, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/61518.
Digitisation and automation technologies, including artificial intelligence (AI), can affect working conditions in a variety of ways and their use in the workplace raises a host of new ethical concerns.
The retail banking sector is fertile ground for studying the impacts of digitalisation on work and employment. Financial services are increasingly provided online, without the intermediary of customer-facing institutions.
European labour markets have recovered strongly from COVID-19. By the end of 2021, little more than 18 months after the start of the pandemic, employment rates in the EU were almost at pre-crisis levels.
