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.
LeÅŸu Ursului and Dorna Iacobeni (Nord-Est region, Suceava county)
Sector
Mining / Quarrying Mining And Quarrying Mining Of Metal Ores 07 - Mining of metal ores
450 jobs Number of planned job losses
Announcement Date
14 April 2005
Employment effect (start)
14 April 2005
Foreseen end date
31 December 2006
Description
In line with the legal provision, Minbucovina, a state-owned company in Vatra Dornei (Nord-Est region, Suceava county), made 150 employees redundant in 2005.
In January 2006, new redundancy figures were approved by the Government Decision no. 78 of 19 January 2006.
Collective redundancies at Minbucovina will total 450 people, of which 150 people in 2005 and another 300 employees starting January 2006.
Minbucovina extracts non ferrous ores (copper, zinc and other complex metallic ores) from 15 sites located in the Suceava county (North-Eastern region).
The company registered a turnover of about €5.5 million in the first half of 2004.
In 2005, 20% of its shares are to be given to persons who were deprived of their assets by nationalisation before 1989.By law, redundant employees will receive compensatory payments and some more job cuts will follow in the years to come.
Sources
30 June 2005: Office of State Ownership and Privatisation in Industry
Eurofound (2005), Minbucovina, Internal restructuring in Romania, factsheet number 61856, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/61856.
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