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.
Complexul Energetic Oltenia, an important state-owned energy company, will dismiss over 200 employees by the end of June 2019. Due to financial difficulties, compounded by energy price and demand decreases, the company is implementing a restructuring programme intended to improve efficiency. The company was founded in 2012 through the merger of the power plants Turceni, Craiova and Rovinari with the Oltenia association of lignite producers. It provides up to 40% of the power needed in Romania.
The redundancies are part of a restructuring programme which was initiated in 2016, and will be finalised by 2020 affecting 5,000 jobs. Union representatives claimed that departures are mainly voluntary ones, but instead of four compensation aids paid, the employees should receive 16.
The General Manager announced that workers who depart voluntarily will receive four compensation aids paid.
Currently, the company has a workforce of 13,081 employees.
Eurofound (2019), Complexul Energetic Oltenia, Internal restructuring in Romania, factsheet number 97963, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/97963.
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