Petrom gives up 270 employees by outsourcing some operations

Petrom, the biggest domestic company, the only Romanian producer of oil and gas, has recently decided to outsource part of its oil equipment repair operations to CDI Oilfields Services, the Romanian subsidiary of Britain’s Smiths industrial group, with turnover worth above 1.2bn pounds last year. This is not the first such step taken by Petrom, as the company is interested in slashing costs as much as possible. Under the circumstances, outsourcing some operations is one of the solutions, besides other steps such as putting off some investments or reviewing some targets announced in the years before the crisis. Through this move, Petrom effectively made 270 employees redundant. According to Petrom data, the company last year had 27,000 employees left, much less than the over 50,000 people who worked with the company in 2004, the moment of privatisation to Austria’s OMV. The representatives of CDI Olifields Services, did not specify the value and the duration of the contract sealed with Petrom.