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.
Utilities Electricity, Gas, Steam And Air Conditioning Supply Electricity, Gas, Steam And Air Conditioning Supply 35 - Electricity, gas, steam and air conditioning supply
200 jobs Number of planned job losses
Announcement Date
17 March 2006
Employment effect (start)
17 March 2006
Foreseen end date
31 December 2006
Description
Termoelectrica is one of the 18 large national companies in the mining and energy sector affected by a government decree ordering collective dismissals in 2006. The redundant workers will receive compensatory payments in accordance with the stipulations of the collective agreement, unemployment benefits and two net monthly wages (at the level registered in January 2006). The decree had been discussed in the Economic and Social Council (the tripartite body at national level) and the Commission for Social Dialogue, as is mandatory. The job cuts now announced for the 18 companies amount to 10413 in total.(16 cases are recorded in the ERM. The two other cases involve redundacies of 50 people each and are therefore not included in the ERM). The restructuring process is part of the 'National strategy for the mining sector 2004-2010' and of the government's strategy to accelerate privatisation and to attract new investment in the sector.
According with the annual report of the company at the end of 2005 the number of employees of Termoelectrica was 11,933.
Sources
21 March 2006: Economistul
Citation
Eurofound (2006), Termoelectrica, Internal restructuring in Romania, factsheet number 63211, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/63211.
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