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.
Around 100 employees from Braicar, the local public transport company in Brăila (Sud Est region), are going to be made redundant. The decision was made according to the restructuring programme designed to rebalance the budget of the company. Currently, Braicar has large debts and owes to both the state and its suppliers.
Redundant employees will benefit from the compensatory payments stipulated by law, consisting of an immediate pay equal to two national monthly average wages, unemployment benefits, and additional monthly pays which will ensure revenues no less than the national monthly average wage for each of the redundant person.
Eurofound (2005), Braicar, Internal restructuring in Romania, factsheet number 61837, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/61837.