Restructuring events
European Restructuring Monitor (ERM)
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.
Romanian aircraft parts maker Romaero Baneasa announced the dismissal of 150 permanent full-time positions at its Bucharest centre, starting this September. The redundancy plan was approved by the company shareholders during their general assembly held on 5 July 2016.
About 85% of the dismissed employees are production support staff and 15% are production workers. The employees laid off will only receive unemployment benefits and completing monthly incomes but no other compensatory payments. The trade union has so far not reacted to the announcement.
The Romanian manufacturer has been operating in Romania since 1926 and has a workforce of 845.
Update, 19 October 2016: The Romanian Government adopted the decision regarding the amount of compensatory payments to redundant workers. Some 150 employees will be let go by the end of 2016.
Eurofound (2016), Romaero Baneasa, Internal restructuring in Romania, factsheet number 88074, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/88074.