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.
The Romanian National Uranium Company (CNU) which administers the uranium resources and reserves in Romania, announced the dismissal of 332 permanent full-time positions.
The redundancy plan drawn up by the CNU envisages the collective dismissal of 332 employees out of a total of 1,144 employees. Some 203 employees will be dismissed from the Suceava branch (Suceava County), 117 employees from the Feldioara branch (Brasov County) and 12 employees from the CNU headquarters. The employees will be dismissed in one stage. The estimated date for the redundancies to take place is 30 November 2016. The dismissals will reduce the monthly staff costs by 378,000 euro.
In December 2015, the CNU lost the contract for supplying uranium dioxide powder to Nuclearelectrica which is the nuclear operator of Cernavoda plant. Nuclearelectrica preferred to buy cheaper uranium dioxide powder from a Canadian company. By the end of 2015, the CNU had over 30 million euro debts to the state budget.
In September 2016, the Romanian Government informed the European Commission that an individual state aid will be granted to CNU. The value of the aid was around 14 million euro for a 6-month period. The intention was to support the necessary financial resources for covering the expenditures for minimum support activities. The Romanian Government mentioned that a restructuring plan has to be drawn and implemented.
According to the Government Emergency Ordinance no. 36 from 2013 on the implementation in 2013-2018 of social protection measures to persons affected by redundancies made under redundancy plans, redundant workers have, among other rights, the right to supplementing monthly income . The Ordinance was approved and modified by Law no. 259/2013. The supplementing monthly income shall be determined as a difference between the average net earnings paid individually to the employee for the last 3 months before the dismissal and the amount of the unemployment benefits. The supplementing monthly income shall be established on the basis of the clauses included in the individual employment contract and shall not exceed the net average national income in January of the dismissal year as announced by the National Institute of Statistics.
The trade union has reacted by organizing a series of street protests, but the decisions have not changed.
Established in 1997, the CNU administers the mineral resources of uranium in Romania, the main holder is the Ministry of Energy. It is the sole supplier of powder sintered uranium dioxide (UO2) which is the raw material required to manufacture nuclear combustible at the Cernavoda nuclear plant.
Eurofound (2016), Compania Nationala a Uraniului, Internal restructuring in Romania, factsheet number 89152, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/89152.
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