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
1,000 - 3,000 jobs Number of planned job losses
Announcement Date
11 February 2015
Employment effect (start)
1 March 2015
Foreseen end date
31 December 2015
Description
Energy and mining company Complexul Energetic Oltenia (CEO) is to dismiss up to 3,000 people starting on March 1st. The intention is to dismiss at least 1000 persons from the Berbești mine (Valcea County). The remaining redundancies relate mainly to employees having one or two years until retirement, who will enter into a social protection programme. They are expected to receive about 375 Euros per month until reaching retirement age.
The company, an important national power producer, is undergoing a restructuring process as a result of unfavourable market conditions. CEO was founded in 2012 based on a merger of other groups. Since 1st of January 2014, 300 people have left CEO, 224 through retirement.
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