Type
Internal restructuring
Country
Romania
Region
Bucuresti; Bucuresti;
Location of affected unit(s)
Bucharest
Sector
Utilities
Electricity, Gas, Steam And Air Conditioning Supply
Electricity, Gas, Steam And Air Conditioning Supply
35 - Electricity, gas, steam and air conditioning supply

300 jobs
Number of planned job losses
Job loss
Announcement Date
16 June 2011
Employment effect (start)
Foreseen end date
31 December 2011

Description

The Romanian government has announced that the state-controlled power generation company Termoelectrica will lay off 300 employees in 2011 as part of the action plan agreed with the International Monetary Fund (IMF), the World Bank and the European Commission in order to decrease the state budget deficit.

The decision has been announced by the Ministry of Economy, Commerce and Business Environment on 16 June 2011. The dismissed workers will receive a compensatory payment of EUR 4,000 in 2011 and 2012.


Sources

  • 16 June 2011: minind.ro

Citation

Eurofound (2011), Termoelectrica, Internal restructuring in Romania, factsheet number 72127, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/72127.