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 35.3 - Steam and air conditioning supply
100 jobs Number of planned job losses
Announcement Date
19 December 2011
Employment effect (start)
1 March 2012
Foreseen end date
Description
Colterm Timisoara, a provider of steam and hot water, announced to dismiss more than 100 employees. The redundancies will be implemented from March 2012.
The main reason for the dismissals invoked by the company is the decrease of the market demand by 10% as a result of households ‘disconnecting from the company network' and installing own thermal micro-centrals.
At present, the company has 1,075 employees.
Sources
19 December 2011: ziuadevest
Citation
Eurofound (2011), Colterm Timisoara, Internal restructuring in Romania, factsheet number 72906, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/72906.
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