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.
Over 200 employees of Uzina Mecanică Cugir (Centru region, Alba county) will lose their jobs by the end of 2005. The plant manufactures machine-tools, machines and equipment for the metallurgic industry, various mechanical processing machines.
The manager of the company stated that the majority of redundancies involve administration and auxiliary personnel so production activities will not be affected. The company will outsource certain activities such as protection and security services and will organize tenders to resort to specialised companies. ‘We also have a company switchboard with 10 operators, whose services will no longer be required given the restructuring process. Consequently, if we acquire a digital switchboard, we will pay off the investment within a month', declared the manager of Uzina Mecanică Cugir.
This way, company expenses will be cut considerably. Redundant employees will receive redundancy pay of about 25,200 new lei (€7,200), the equivalent of 36 average monthly wages.
Eurofound (2005), Uzina Mecanică Cugir, Internal restructuring in Romania, factsheet number 62209, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/62209.
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