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.
Manufacturing Manufacture Of Basic Metal And Fabricated Metal Products Manufacture Of Fabricated Metal Products, Except Machinery And Equipment 25 - Manufacture of fabricated metal products, except machinery and equipment
200 jobs Number of planned job losses
Announcement Date
4 August 2005
Employment effect (start)
4 August 2005
Foreseen end date
31 December 2005
Description
According to Government Decision no. 891 of 4 August 2005, the company Termoserv in Turceni (Sud-Vest region, Gorj county) will make redundant 200 of the 901 employees. Termoserv was established in 2003 following the restructuring of the electric power plant in Turceni and now manufactures steam generators and provides services to thermal power plants in the area, especially the Complexul Energetic Turceni.
Termoserv is currently state-owned and subordinated to the Ministry of Economy and Commerce (Ministerul Economiei şi Comerţului, MEC). In the future, MEC intends to privatise Termoserv, either separately, or together with the power station it serves.
Under the law, redundant employees will be entitled to redundancy pay plus compensation equal to two years' average national wages.
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