TVR considers tacking up a loan to compensate sacked employees

Newsroom 21/09/2012 | 08:50

The Romanian national public television (TVR) is trying to obtain a loan between EUR 10 million and EUR 15 million, which represents the value of the compensation packages for the 1,000 employees who will be sacked, according to Valentin Nicolau, member of the administration board of TVR.

“Compensation salaries, estimated between EUR 10 million and EUR 15 million are fiction because the money does not exist. We are attempting to take a commercial loan from the bank. In these conditions, I don’t know what commercial bank would grant a a commercial loan to a television that has a hole of EUR 170 million, and cannot offer any warranties for it,” said Nicolau.

The TVR staff will be cut down to a total of 2,340 once the recovery program is implemented.

 Otilia Haraga

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