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.
Cuprumin, located in Abrud (Centru region, Alba county) made redundant around 10% of its current personnel in 2005. Some 171 employees were laid-off in 2005, as compared to 80 in 2004.
In January 2006, new redundancy figures were approved by the Government Decision no. 78 of 19 January 2006.
Collective redundancies at Cuprumin will total 221 people: 171 people in 2005 and another 50 employees in 2006.
Cuprumin is a state-owned company in the mining sector and was included on the list of companies affected by redundancies as approved by Government Decision no. 300 dated 14 April 2005. Cuprumin draws, prepares and delivers copper ore from the Roşia Poieni (Central region) deposit as well as other ornamental and building stone materials. According to the provisions of Law no. 10/2001, Cuprumin is also set to start a process of privatisation by restitution in 2005, and a 20% share quota will go to the owners that were deprived of their properties through nationalisation before 1989.As in the case of other mining companies, the restructuring process will not end by 2005 and further redundancies are to be expected.
Eurofound (2005), Cuprumin, Internal restructuring in Romania, factsheet number 61855, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/61855.
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