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.
Complexul Energetic Oltenia, an important state owned energy company, will lay off 2133 employees by the end of 2015. Due to financial difficulties, compounded by energy price and demand decreases, the company is implementing a restructuring programme intended to improve efficiency. The Government has approved 2.8 mil Euros from the unemployment fund as severance payments for the redundant personnel. The company was founded in 2012 through the merger of the power plants Turceni, Craiova and Rovinari with the Oltenia association of lignite producers. It provides up to 40% of the power needed in Romania.
Eurofound (2015), Complexul Energetic Oltenia, Internal restructuring in Romania, factsheet number 83863, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/83863.