RESTRUCTURING
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Ponta Says Loan Restructuring Will Be Optional For Banks And Individuals
Romanian Prime Minister Victor Ponta said Thursday that loan restructuring will be optional for both banks and individuals and the measure will probably be applied starting July 1, 2014.
CFR Seeks Consultant To Draft Restructuring Plan For EUR1.23M
Romania's state-owned railway company CFR SA is seeking a consultant to draft and implement a detailed restructuring plan under a EUR1.23 million contract to be financed using part of a loan...
Dafora Restructures Its Loan And Leasing Contracts
Romanian drilling company Dafora Medias (DAFR.RO) announced that it restructured all its loan and leasing contracts.
Leonardo’s Restructuring Process Close To Finish Line
Leonardo, the largest Romanian footwear retailer, has reached its last year of reorganization after the debt-mired company entered insolvency in the second half of 2009.
Tarom Might Downsize Staff, Cut Wages
The management of Romanian state-owned airline Tarom is considering downsizing the company’s staff, lowering wages and eliminating flights to conflict zones, including Egypt, Tarom CEO Nicol...
Romania's Largest Insurers Sped Up Restructuring, Laid Off 1,000 Employees In 2012
The first ten largest insurance companies in Romania employed an average of 12,000 people last year, 1,000 fewer than in 2011, as they continued restructuring their business, hurt by the cri...
Government Adopts Decree Slashing 3,000 Jobs In Central Administration
Romania’s Government on Wednesday adopted an emergency ordinance laying off nearly 3,000 people in central administration jobs and eliminating vacancies in local and central administration,...
Hidrolectrica Downsized To 7 Branches Out Of 13, Wage Spending Drops By EUR6M
Romania’s insolvent state-run power producer Hidroelectrica has been restructured and downsized to seven out of 13 branches, and will cut 300 jobs, lowering the company’s spending on salarie...
Government Adopts Decree On Protection Measures For Laid-Off Employees
Romania’s Government adopted Tuesday an emergency decree containing social protection measures for employees affected by the restructuring of state-owned companies, Economy Minister Varujan...