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.
CFR Calatori, public operator of railways transport, notified the territorial labour inspectorate about the intention to dismiss 1,050 employees starting in March 2012.
This is part of a restructuring programme promoted by the Romanian Government as result of the conditionality imposed by the loan agreement signed with the International Monetary Fund. Previously, in July 2011, the company cut 1,000 jobs (see here).
The redundant workers will receive 670 lei/month for six months as compensatory payments. At present the company has approximately 14.000 employees.
Eurofound (2012), Societatea Nationala de Transport Feroviar de Calatori CFR Calatori, Internal restructuring in Romania, factsheet number 73124, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/73124.