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.
The redundancy programme of Complexul Energetic Turceni in Turceni (Sud-Vest region, Gorj county) that was launched on 14 April 2005 will involve laying off 130 people.
Complexul Energetic Turceni is a state owned company that produces and delivers electric energy and heat energy based on white lignite. In addition, the company extracts and prepares inferior quality coal.
Data released by the Office of State Ownership and Privatisation in Industry (Oficiul Participaţiilor Statului şi Privatizării în Industrie, OPSPI), showed that company's turnover in the first half of 2004 was worth 33.6 million euro but the net results were negative.
The government also intends to establish a privatisation strategy for the company.
Eurofound (2005), Complexul Energetic Turceni, Internal restructuring in Romania, factsheet number 61860, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/61860.