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.
CFR Marfă is the state-owned freight railway business of Romania. Formerly the freight division of Căile Ferate Române (CFR), it was separated in 1998 to become a semi-independent business and is the national operator that performs its activity on the whole railway network.
CFR Marfă is controlled by the Ministry of Transport. The Ministry announced that 1,400 employees will be dismissed this year after the company has approved the revenue and expenditure budget for 2021. The company has nearly €4 billion debt and is awaiting approval of the payment mechanism for covering a debt of €570 million which is considered by the EU as state aid and therefore incompatible with European legislation.
Based on the collective agreement, employees made redundant will receive a one-off redundancy payment which amounts to six minimum wages. According to the Minister of Transport, Mr. Catalin Drula, CFR Marfă now has about 4,700 employees and a 25% market share.
So far, no trade union has reacted to the decision of the Ministry of Transport.
Updated, 25 May 2021:
According to a European Commission letter, the Romanian government plans to dismantle CFR Marfa. Twenty-three percent of CFR Marfa's rolling stock will be transferred to another state-owned company, Rofersped SA.
According to the plan, more than 1,400 out of the 5, 000 employees, will be dismissed as part of the restructuring. Another 2,500 employees are to be transferred over to Rofersped SA. However, the transfer of employees is not a mandatory requirement of the restructuring process. Furthermore, extant plans do not provide details regarding the employment situation of the remaining 1,100 employees.
Eurofound (2021), CFR Marfa, Internal restructuring in Romania, factsheet number 104668, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/104668.
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