Petrotrans

Type
Internal restructuring
Country
Romania
Region
Location of affected unit(s)
Romania
Sector
Transportation / Storage
Land, Water And Air Transportation
Land Transport And Transport Via Pipelines
49 - Land transport and transport via pipelines
400 jobs
Number of planned job losses
Job loss
Announcement Date
27 December 2005
Employment effect (start)
25 January 2006
Foreseen end date
31 December 2006

Description

The Romanian company Petrotrans will make 400 employees redundant from January 2006.

The decision was first made by the Government Decision no. 1771 of 22 December 2005 and then reiterated by the Government Decision no. 78 of 19 January 2006.

Employees will receive compensatory payments according to the Government Emergency Ordinance no. 8 of 2003.

Petrotrans is a petroleum products carrier specialised in rail transport of crude oil, gasoline and other petroleum products. The company split from Petrom (the main petroleum company in Romania) in 2002 and the government announced its intention to privatise it.

Sources

Citation

Eurofound (2005), Petrotrans, Internal restructuring in Romania, factsheet number 62999, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/62999.