CEZ Distributie to cut 110 jobs this year

Romanian electricity distributor CEZ Distributie will cut 110 jobs in 2010, representing over 7 percent of the total personnel, according to Doina Vornicu, the company’s GM. Thus, the company plans to have 1,406 employees from 1,516 figure registered at the end of 2009. Vornicu explained the layoffs are due to investments in transformation units as well as to the implementation of new technologies implemented. Some of the employees will retire while others will receive severance pay, she said.

On the other hand, CEZ Distributie plans to invest RON 196.2 million this year, up 48.6 percent compared to the previous year, mainly in network and transformation units upgrading.

CEZ has invested RON 1.092 billion in the energy distribution network since 2005, when it bought the former Electrica Oltenia from the Romanian state in a EUR 166.5 million deal. The company distributed 7 TW/h of electricity in 2009.