Romsilva

Type
Internal restructuring
Country
Romania
Region
Location of affected unit(s)
Sector
Agriculture
Agriculture, Forestry And Fishing
Forestry And Logging
02 - Forestry And Logging
2,800 jobs
Number of planned job losses
Job loss
Announcement Date
22 August 2007
Employment effect (start)
22 August 2007
Foreseen end date
31 December 2007

Description

Romsilva, a state-owned group responsible for administering the Romanian national forest, is to cut 2,800 jobs by the end of 2007. The decision to implement the job losses is due to the loss of forest management contracts to firms in the private sector. Management at Romsilva estimate that approximately 60% of the forestry that the group is responsible for administering will be lost during this process. Romsilva employs 24,000 in Romania and in 2006 had a turnover of 1.002 billion RON and a gross profit of 69.51 million RON. The group was founded in 1991, and is responsible for all aspects of the management of Romanian forests.

Sources

  • 23 August 2007: Ziarul Financiar

Citation

Eurofound (2007), Romsilva, Internal restructuring in Romania, factsheet number 65713, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/65713.