Romania -Hidroelectrica slashes 300 jobs to escape insolvency process -June 06, 2013

State-owned electricity producer Hidroelectrica has announced its shareholders have agreed with a large scale restructuring plan which will allow the company to exit the insolvency process it is currently in. As a part of the plan, subsidiaries will be merged and 300 jobs will be cut to realise a 6 million cut in salary costs. Notwithstanding the restructuring process, Hidroelectrica will remain indebted and has agreed to a schedule of payment in instalments.

English: http://www.romania-insider.com/hidroelectrica-largest-energy-producer ...

 

For more information, please contact the editor Jan Cremers, Amsterdam Institute for Advanced Labour Studies (AIAS) cbn-aias@uva.nl or the communications officer at the ETUI, Mariya Nikolova mnikolova@etui.org. For previous issues of the Collective bargaining newsletter please visit http://www.etui.org/E-Newsletters/Collective-bargaining-newsletter. You may find further information on the ETUI at www.etui.org, and on the AIAS at www.uva-aias.net.


News Archive

Loading...