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
190 jobs Number of planned job losses
Announcement Date
31 January 2016
Employment effect (start)
1 March 2016
Foreseen end date
31 December 2016
Description
The principal activity of Šoštanj Thermal Power Plant (TEŠ), a company based in in Savinjska region and part of Holding slovenske elektrarne (HSE), is generation of electricity and district heating energy. With an installed power of 779 MW, the Šoštanj Thermal Power Plant generates, on average, one third of the energy in the country, and in periods of crisis, it can cover more than one half of the national demand. Last year the company experienced a significant loss of 50 million EUR mainly due to the fact that the new unit 6 produced more expensive electricity than was initially foreseen.
The company announced a necessary restructuring. According to the journal Finance, unofficial sources claim that it will result into reduction of employment by 190 jobs, almost a half of its total labour force. As daily Delo reports, the HSE chief manager hasn't denied the news. He only emphasised that the terms of collective dismissals are still under negotiations with the trade union. This measure is in line with the HSE’s announcement in November 2015 about the restructuring of the whole group.
Sources
31 January 2016: Finance
30 January 2016: MMC RTV SLO
Citation
Eurofound (2016), TEÅ , Internal restructuring in Slovenia, factsheet number 86465, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/86465.
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