Type
Internal restructuring
Country
Romania
Region
Sud; Dambovita;
Location of affected unit(s)
Targoviste, Dambovita county, South region
Sector
Manufacturing
Manufacture Of Basic Metal And Fabricated Metal Products
Manufacture Of Basic Metals
24.1 - Manufacture of basic iron and steel and of ferro-alloys

249 jobs
Number of planned job losses
Job loss
Announcement Date
3 July 2009
Employment effect (start)
15 July 2009
Foreseen end date
31 August 2009

Description

The steel manufacturer Mechel Targoviste, local subsidiary of the Russian group Mechel, announced the intention to dismiss 249 employees, in July and August 2009.The measure is due to reduced market demand. The company has 3,128 employees and reported a turnover of 26 million euro and losses of 7.4 million euro in the first quarter of 2009.


Sources

Citation

Eurofound (2009), Mechel Targoviste, Internal restructuring in Romania, factsheet number 69326, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/69326.