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 Romanian company Petrotrans will make 400 employees redundant from January 2006.
The decision was first made by the Government Decision no. 1771 of 22 December 2005 and then reiterated by the Government Decision no. 78 of 19 January 2006.
Employees will receive compensatory payments according to the Government Emergency Ordinance no. 8 of 2003.
Petrotrans is a petroleum products carrier specialised in rail transport of crude oil, gasoline and other petroleum products. The company split from Petrom (the main petroleum company in Romania) in 2002 and the government announced its intention to privatise it.
Eurofound (2005), Petrotrans, Internal restructuring in Romania, factsheet number 62999, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/62999.
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