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.
On 8 September 2005, the General Council of Bucarest, the capital city of Romania, approved the reorganisation programme of the public transport company, Regia Autonomă de Transport Bucureşti, RATB (Bucureşti region). Among other things the programme includes the cut of 2,300 jobs, out of 14,300. The decision came as a result of RATB's total debts of 2004, which amounted to 119 million lei (€34 million ) and debts to providers totalling 19.6 million lei (€5.6 million ).
‘RATB employees affected by collective redundancy will receive redundancy pay. We will also work together with the National Employment Agency (Agenţia Naţională pentru Ocuparea Forţei de Muncă, ANOFM), to find them new jobs', the mayor, Adrian Videanu, declared.
Redundant employees will receive a redundancy pay amounting to twice the average national wage, unemployment benefit and an additional monthly income.
The current programme is not the first of its kind to be carried out in RATB. In the interval 1998-2004, RATB employees went through successive redundancies which meant a cut of 4,140 jobs.
Eurofound (2005), Regia Autonomă de Transport Bucureşti, Internal restructuring in Romania, factsheet number 62213, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/62213.