Termoelectrica to let 300 employees go

Newsroom 28/06/2011 | 12:17

Termoelectrica, the electricity company owned by the Economy Ministry, will lay off 300 employees at two if its units. 180 people will be let go at the Doicesti unit, while 120 will be put on leave at the Borzesti unit, according to a restructuring plan approved by the shareholders of the company.

Termoelectrica has three branches (Electrocentrale Deva, Electrocentrale Bucuresti and Electrocentrale Galaţti), four units (Paroseni, Doicesti, Borzesti and Braila) and over 12,000 employees. The Paroseni and Braila branches will be turned into units.

This June, the Economy Ministry announced it was planning to attract private investors that will start building, in partnership with Termoelectrica, two new energy production groups at the Doicesti plant. The value of this investment was evaluated at EUR 700 million.

The restructuring program for Termoelectrica was discussed by the government in the negotiations with the IMF. The government committed to cutting 7,000 jobs in railway companies, energy companies and the Romanian post by September and to reduce their functioning costs.