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.
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.
Eurofound (2011), Colterm Timisoara, Internal restructuring in Romania, factsheet number 72906, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/72906.