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 35.13 - Distribution of electricity
800 jobs Number of planned job losses
Announcement Date
21 August 2015
Employment effect (start)
21 August 2015
Foreseen end date
30 December 2015
Description
Romanian electricity supply and distribution firm Electrica is to cut 800 jobs by the end of the year. Other measures include cuts in wages and other employee benefits.
The firm has also recently decided to outsource two of its wind projects which are in a ready-to-build phase.
The Romanian state controls some 49% of Electrica’s shares and the remaining 51% are held by the Bucharest Stock Exchange and London Stock Exchange. The firm had 11,740 employees at the end of 2014.
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Sources
20 August 2015: Realitatea Net
20 August 2015: Wall Street Romania
Citation
Eurofound (2015), Electrica, Internal restructuring in Romania, factsheet number 84876, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/84876.
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