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.
Government Decision no. 587 of 23 June 2005, approved the collective lay-off of 200 employees of the company Drumuri şi Poduri Vrancea (the Roads and Bridges Vrancea), in Focşani (Nord-Est region, Vrancea county). The collective redundancy operation will be carried out in line with Government Emergency Ordinance no. 8/2003 on encouraging restructuring, reorganisation and privatisation of trade companies, national companies with majority state-capital. Redundant employees will benefit from social security measures, in line with the legislation in force.
Drumuri şi Poduri Vrancea is a company with wholly state-owned capital, which cannot be kept running owing to the reduced number of works contracted for 2005. As a result, the company Board of Administrators has approved a restructuring and reorganisation programme. The first stage of the programme involves the collective redundancy of 200 employees. The second stage will focus on the privatisation of the company.
Eurofound (2005), Drumuri şi Poduri Vrancea, Internal restructuring in Romania, factsheet number 61846, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/61846.