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 35.1 - Electric power generation, transmission and distribution
212 jobs Number of planned job losses
Announcement Date
22 June 2011
Employment effect (start)
22 June 2011
Foreseen end date
30 December 2011
Description
CEZ Electro Bulgaria announced that 212 employees will be laid off to improve work efficiency and increase productivity. According to the trade union, the job cuts are due to the fact that the State Energy and Water Regulatory Commission (SEWRC) has authorized 10.5 million less for personnel costs.
CEZ Electro Bulgaria is a company, registered at Sofia City Court on August 29, 2006. The capital of the company is 50,000 BGN, 67% of which owned by CEZ a.s. (Czech Republic) and the remainder (33 %) by the State of Bulgaria. The company is the successor of electricity suppliers Electricity Distribution Stolichno, Electricity Distribution Sofia Oblast and Electricity Distribution Pleven.
Eurofound (2011), CEZ Electro Bulgaria, Internal restructuring in Bulgaria, factsheet number 72472, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/72472.
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