Without restructuring, the Romanian Post goes bankrupt, warns minister of communications

The administration board of the Romanian Post will discuss today a restructuring plan to avoid the bankruptcy of the institution.

On the agenda, there will be a new framework of organization, the dismissal of 100 managers and 1,068 TESA (technical, economic, scientific and administrative) staff, according to Dan Nica, the new minister of communications.

“If this restructuring plan is not approved, the Romanian Post will go bankrupt, as I was informed by the former general manager of the company in a letter. The plan stipulates a new organization, making 2 out of 3 managers redundant, which means that instead of 150 managers there will be one third left, and firing 1,068 TESA employees, people who were employed over the last years without the necessary competencies and with very high salaries compared to employees with 30 years of experience,” said Nica.

He also said the situation of the Romanian Post is “extremely worrisome” as the national company posted losses of approximately EUR 100 million over the past three years.

The Romanian Post has a debt to the state budget of approximately RON 110 million, plus the fine from the Competition Council, in excess of RON 100 million, said the minister of communications, also making very severe comments on the former post manager.

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“In a very nice letter, the former general manager of the Romanian Post, whom I was glad to let go fast and let him return to his core profession, specialist in sales of sinks, was announcing me that on April 13, the Romanian Post will go bankrupt,” said Nica.

Former general manager of the Romanian Post, Dumitru Daniel Neagoe, took over the helm of the institution in mid 2010. He was replaced by Ion Smeeianu, former state secretary in the Ministry of Communications.

The shareholders in the Romanian Post are the Ministry of Communications with 75 percent stake and the Proprietatea Fund, with 25 percent stake.
Otilia Haraga