Petrom

Type
Internal restructuring
Country
Romania
Region
Location of affected unit(s)
Sector
Manufacturing
(19) Manufacture of coke and refined petroleum
19.2 - Manufacture of refined petroleum products and fossil fuel products
19.2 - Manufacture of refined petroleum products and fossil fuel products
3,000 jobs
Number of planned job losses
Job loss
Announcement Date
9 January 2009
Employment effect (start)
1 February 2009
Foreseen end date

Description

Oil producer Petrom, the Romanian subsidiary of the Austrian group OMV, is to lay off 3,000 employees in Romania as of February 2009. The job cuts are reported to be more the consequence of the firm's privatisation in 2004 than a direct result of the economic crisis. At that time, the company was state-owned. In 2008, the company reported a turnover of 3.5 billion euro.

Sources

  • 12 January 2009: Ziarul Financiar

Citation

Eurofound (2009), Petrom, Internal restructuring in Romania, factsheet number 68056, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/68056.