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 124 employees by the end of July 2024.
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. Management says the measure is necessary to align the company’s restructuring strategy and to maintain financial equilibrium. On 1 July 2024, some employees protested in front of the company’s headquarters from Targu Jiu (Gorj County) because they are unhappy that the company terminated their contracts without notice.
Following the protest representatives of the protesters had discussions with the members of the company's Board of Directors and the Director of Human Resources. The aim of these discussions was to find solutions to the grievances expressed by the protesters. The protesters raised issues related to the criteria for non-renewal of fixed-term employment contracts, arguing that they were not applied correctly. The trade union did had any reaction after the meeting.
Currently, the company has a workforce of 10,152 employees.
Eurofound (2024), Complexul Energetic Oltenia, Internal restructuring in Romania, factsheet number 201361, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/201361.