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 35.11 - Production of electricity
500 jobs Number of planned job losses
Announcement Date
14 June 2012
Employment effect (start)
1 June 2012
Foreseen end date
31 December 2012
Description
Termoelectrica, a Romanian state-owned power generation company, will dismiss 500 employees in 2012. 200 jobs are to be cut in June and another 300 by the end of November 2012. The cuts will affect Termoelectrica's workforce in the Bucharest region.
The restructuring programme was announced by the Romanian Government as part of an agreement concluded with the International Monetary Fund, the World Bank and the European Commission.
Sources
15 June 2012: mediafax.ro
Citation
Eurofound (2012), Termoelectrica, Internal restructuring in Romania, factsheet number 73854, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/73854.
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