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 Water Supply; Sewerage, Waste Management And Remediation Activities Water Collection, Treatment And Supply 36.00 - Water collection, treatment and supply
700 - 750 jobs Number of planned job losses
Announcement Date
16 October 2014
Employment effect (start)
Foreseen end date
31 December 2014
Description
Water utility Raja Constanta announced plans to dismiss almost 750 employees in 2014 in a bid to improve its profitability. The company is the largest regional operator in Romania in the public water supply and sewerage sector. It currently serves 143 localities in several counties, Constanta, Ialomita, Ilfov, Calarasi, Dambovita and Brasov.
As reported, in 2014 the company received a €10 million loan by the European Bank for Reconstruction and Development (EBRD), as an extension of a previous one in 2010. In addition, the company accessed EU Cohesion funds worth €47.5 million, to support its investments in the expansion of its water and sewerage networks.
Sources
17 October 2014: Ziarul Financiar
16 October 2014: România Liberă
Citation
Eurofound (2014), Raja, Internal restructuring in Romania, factsheet number 77954, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/77954.
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