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.
Fincantieri, an Italian shipbuilding group, announced plans to recruit more than 400 Romanian workers over the next two years for its VARD shipyards in Brăila and Tulcea, Romania. The recruitment concerns mainly blue‑collar positions, including welders, carpenters, painters and other shipyard trades. The new hires will be employed at the VARD shipyards in Brăila and Tulcea, with recruitment and training already underway in 2019 and continuing until 2021.
Fincantieri has chosen to invest directly in training unqualified workers due to the lack of skilled labour on the local market and the higher costs associated with employing foreign workers. The newly recruited workers will be trained through extensive theoretical and practical programmes organised directly at the shipyards, in cooperation with several Romanian universities and technical institutions.
VARD plans to identify among its Romanian workforce the most experienced and qualified employees for potential future military shipbuilding projects. Fincantieri is one of the qualified candidates in a tender for military vessels for the Romanian Navy, and the company intends to use the Romanian shipyards for the construction of military ships if the contract is awarded.
Fincantieri employs more than 19,000 people worldwide and about 5,000 directly at its Romanian shipyards. Over recent years, the group has invested more than €150 million in the modernisation and technological upgrading of the Brăila and Tulcea shipyards, positioning them among the most technologically advanced shipyards in Europe.
Eurofound (2019), Vard Group, Business expansion in Romania, factsheet number 97711, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/97711.
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