Large energy companies disburse over 100m euros in redundancy pay

The largest companies on the Romanian energy market laid off more than 10,000 employees, to whom they disbursed over 100 million euros in redundancy payment in a period of less than a year. Half of the redundancies were announced in January this year, with experts saying that, due to the crisis, this type of moves could expand beyond the already projected restructuring programmes. According to them, the energy sector is not better shielded from the crisis than other sectors. Electrica, Petrom, CEZ Romania, Distrigaz Sud, E.ON. Gaz Romania and Rompetrol are the companies that have so far announced the biggest personnel cuts, with the restructuring being aimed at cutting costs in view of boosting the companies’ productivity. The most extensive layoff plan announced by an energy company in early this year is Petrom’s, with 3,000 employees to be made redundant starting February, a step included in the company’ restructuring plan and negotiated with the trade unions.