“This measure is based on the need to resize and streamline the company’s activity, as a result of the synergies/mergers between the industrial platforms in Ramnicu Valcea and Onesti, but also in the current economic and geo-political context, in which the company aims to optimize the operational and operating costs, to streamline its activity, in order to use the human and financial resources with maximum efficiency, adapt to the influences exerted by the national and international crisis context in order to overcome all challenges,” Chimcomplex said in its report to the Bucharest Stock Exchange.
Chimcomplex had 1,936 employees on June 30, which means about 20% will be laid off, according to ZF’s calculations.
It had previously said it would try to protect its employees but if power prices did not go back down, they could lose their jobs.
Chimcomplex ended the first half of 2022 with RON1.22 billion revenue, an increase of 7% on the year-ago period, while the profit shrank by 42% to RON165 million, amid rising power and gas prices, its half-year report said.
(English version by Loredana Fratila-Cristescu)