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.
On 14 April 2005, the Romanian Government adopted Decision no. 300, on the collective redundancies that are to be made during 2005 in companies under the authority and coordination of the Ministry of Economy and Commerce (Ministerul Economiei şi Comerţului, MEC).
In line with the decision, 1,200 miners from the company CNH Petroşani (Western region, Hunedoara county) were to be made redundant in 2005.
On 19 January 2006, the Government Decision no. 78 approved new redundancy figures. Apart from the 1,200 people made redundant in 2005, another 400 employees from CNH Petroşani will lose their jobs starting in 2006.
All redundant people will receive compensatory payments, according to their length of service.
The company is 100% state-owned and extracts and processes mineral and brown coal. CNH Petroşani holds under its administration 10 mining exploitations.
According to the website of the Office of State Ownership and Privatisation in Industry (Oficiul Participaţiilor Statului şi Privatizării în Industrie, OPSPI) in the first half of 2004 the company registered a turnover of about €71 million.
The redundancy programme is set to continue in the years to come, as part of the strategy to invigorate the company, since all subsidies for hard coal will have been cut off by 2010.
Eurofound (2005), CNH Petroşani, Internal restructuring in Romania, factsheet number 61849, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/61849.
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