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.
Mining / Quarrying Mining And Quarrying Mining Of Metal Ores 07.21 - Mining of uranium and thorium ores
520 jobs Number of planned job losses
Announcement Date
27 July 2015
Employment effect (start)
Foreseen end date
30 August 2016
Description
Romanian Authority for Nuclear Activities (RAAN) Drobeta Turnu Severin announced the second and last wave of redundancies affecting 520 jobs to be implemented by 31 August 2016. The company started the restructuring programme in 2015 when 1,525 employees were dismissed.
The RAAN entered an insolvency procedure in September 2013, on debts over 150 million euro. Other debts amounting to over 15 million euro were accumulated during insolvency.
In July 2015, the redundancy plan for 2,045 employees, which had been proposed by the Tudor & Asociatii liquidator, was approved. The plan was implemented as of October 2015, when 1,525 employees were let go. The second phase is to be implemented as of August 2016, when another 520 employees will be made redundant.
The RAAN was declared bankrupt in January 2016, according to a decision of the Mehedinti Court. In June 2016, the Craiova Court of Appeal dismissed the appeals lodged against the sentence.
According to the Government Emergency Ordinance no. 36 from 2013 on the implementation in 2013-2018 of social protection measures to persons affected by redundancies made under redundancy plans, approved and modified by Law no. 259/2013, dismissed persons have, among other rights, the right to supplementing monthly income .
The supplementing monthly income shall be determined as a difference between the average net earnings paid individually to the employee for the last 3 months before the dismissal and the amount of the unemployment benefits.
The supplementing monthly income shall be established on the basis of the clauses included in the individual employment contract and shall not exceed the net average national income in January of the dismissal year as announced by the National Institute of Statistics.
The trade union has reacted by organizing a series of street protests, but the decisions have not changed.
The RAAN was established under the Government Decision No. 365/02.07.1998 and it produces heavy water needed for the electricity production in nuclear reactors of the Cernavoda nuclear power plant as well as thermal energy.
Sources
27 July 2016: Guvernul Romaniei
28 July 2016: Evenimentul Zilei
16 June 2016: Evenimentul Zilei
15 June 2016: economiczoom.ro
Citation
Eurofound (2015), Regia Autonoma pentru Activitati Nucleare, Bankruptcy in Romania, factsheet number 88358, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/88358.
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