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 German company E.ON, which owns 67% from the energy-distribution companies in Gorna Oriahovitsa and Varna, announced a 30% decrease of its personnel. From a 3,900 strong workforce, a total of 1,200 in the two branches will be let out, 818 of them -in Gorna Oriahovitsa and 180 - in Provadia, Varna region, announced Georgi Petrov, president of the National Federation of Power Engineers. The announcement was confirmed by E.ON and they explained that this decision will be implemented according to the Labour code which allows employees to be dismissed against agreed compensation depending on the age and the length of service. ‘Trade unions have agreed on these dismissals three months ago, when a special programme was elaborated’, said the deputy minister of economy Luchezar Borissov, who did not take part in these negotiations personally. 'The programme was given to us only last week' trade unions replied, defining the method as unacceptable. 'We may go on strike', said Petrov.
Eurofound (2005), E.ON, Internal restructuring in Bulgaria, factsheet number 62605, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/62605.