Type
Internal restructuring
Country
Romania
Region
Location of affected unit(s)
Sector
Transportation / Storage
Land, Water And Air Transportation
Land Transport And Transport Via Pipelines
49.20 - Freight rail transport

2,500 jobs
Number of planned job losses
Job loss
Announcement Date
21 November 2013
Employment effect (start)
1 January 2014
Foreseen end date
31 January 2014

Description

State-owned rail freight company CFR Marf? is to cut 2,500 jobs in 2014.

As announced, the Romanian Government promotes a cost-cutting restructuring programme envisaging, among other measures, a job reduction plan aimed at decreasing operating losses.

According to media reports, a recent privatisation effort encountered obstacles but a new plan is to be implemented by 2015.

For previous restructuring events see CFR Marf? -2010 and CFR Marf?-2009.


Sources

  • 21 November 2013: romania-insider (online)
  • 21 November 2013: Ziarul Financiar

Citation

Eurofound (2013), Societatea Naţională de Transport Feroviar de Marfă (CFR Marfă), Internal restructuring in Romania, factsheet number 76242, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/76242.