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.
Societatea Nationala de Radiocomunicatii (SNR) is one of the main providers of networks and electronic communications services in Romania and at the same time leader on broadcasting market.
On July 2006, according to the institution budget rectification announced for 2006 and approved by Government Decision, SNR announced the intention to invest approximately RON 208.7 million (EUR 59.6 million) this year. The number of employees of the company was planned to decrease from 2,365 in present to 1,250 by the end of 2006. Because the investment plan was not performed the redundancy process was temperated. On 22 August 2007 the Managing Board of the company announced the intention to dismiss 356 employees (15.27% from total of 2,330) by the end of 2007. The employees wil receive a total amount of redundancy payments of approximately EUR 3.3 million. The decision has the agreement of the trade unions.
Eurofound (2006), Societatea Nationala de Radiocomunicatii, Internal restructuring in Romania, factsheet number 63837, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/63837.