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.
The American construction group Bechtel, contractor for a new Transilvania highway, has announced its plans to dismiss some 2,233 workers (1,933 Romanian employees and approximately 300 foreign employees). The company blames the redundancies on the financial difficulties of the Romanian Ministry of Transport and Infrastructure. The dismissals will be carried out from the beginning of March onwards. As of February there is no information on the timeline for these job losses.
The redundant employees will receive a compensation payment equivalent to 75%-100% of their basic salary over two months. About 500 million euro were paid by the Ministry of Transport and Infrastructure to Bechtel for the first 42 km of highway that has been so far completed.
Eurofound (2010), Bechtel Romania, Internal restructuring in Romania, factsheet number 70220, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/70220.