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.
As part of a wide national redundancy programme approved by Government Decision no. 300/14 in April 2005, 400 employees from the mining company Moldomin located in Moldova Nouă (Vest region, Caraş-Severin county) will become redundant in 2005.
In January 2006, new redundancy figures were approved by the Government Decision no. 78 of 19 January 2006.
Collective redundancies at Moldomin will total 450 people, of which 400 people in 2005 and another 50 employees starting January 2006.
According to the website of the Office of State Ownership and Privatisation in Industry (Oficiul Participaţiilor Statului şi Privatizării în Industrie, OPSPI), the company had 1,320 employees in 2004 and in the first half of 2004 registered a turnover of about €7.7 million.
Moldomin activity is based on the extraction and preparation of non ferrous and rare ore, exploiting the copper body ore in the area. Currently the ore is extracted from two potential areas: on the surface and underground (Suvorov and Valea Mare pits, both in the Western region).
In 2005, international consultants are to be hired to assist OPSPI in attracting new investments for the company.Since Moldomin is not the only company in the industry to make job cuts, redundant people will not only receive compensatory payments, but will also benefit from a national social-economic regeneration programme, designed to assist former miners to find new jobs in the affected mining areas.
Eurofound (2005), Moldomin, Internal restructuring in Romania, factsheet number 61854, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/61854.
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