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.
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
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.
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