RESTRUCTURING
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Oltchim Employees To Protest Outside Government HQ Tuesday
About 1,000 employees of insolvent chemical plant Oltchim Ramnicu Valcea (OLT.RO) will hold a protest rally outside the Government building in Bucharest Tuesday, requiring an urgent meeting...
Romanian To Cut Staff By 15% In Public Institutions’ Central Structures
Downsizing public administration staff by 15% might also entail layoffs in the central apparatus of ministries, Romanian Finance Minister Daniel Chitoiu said Sunday.
Nicolaescu: Health Ministry Restructuring Envisages Cutting Off Three To Four Thousand Jobs
Romania’s Health Ministry restructuring project envisages cutting off between three to four thousand jobs "in bureaucracy," but some of them will be redistributed on a skill-based evaluation...
BCR Restructuring To Take 18 Months And Cost RON118M
A bank like BCR, which has 10% of the national branch network, 20% of the assets, loans or deposits and 15% of the employees in the entire system, cannot be that hard to turn around. It only...
Ghetea: Restructuring Of Romanian Banking System To Continue In 2013
The restructuring of the Romanian banking system has just started and will continue in 2013, Radu Ghetea, president of Romanian banks association ARB and of CEC Bank, said Wednesday.
Volksbank Cuts 170 Jobs And Restructures Its Network
Volksbank Romania, which ended last year with a loss of around EUR95 million according to international reporting standards, has decided to shed almost 170 jobs as part of restructuring meas...
Posta Romana Accumulates Losses Of Almost RON500M In Three Years
The total losses of the Romanian postal company in the past three years amount to 484 million lei (EUR106.6 million) and the company risks to collapse if its restructuring plan is not succes...
Head Of Postal Company: My Priority Was To Remove The Risk Of Insolvency By Cutting Unproductive Spending
State-run postal company Posta Romana is one step away from insolvency unless it goes through a deep restructuring of its activity, after it cumulated losses of EUR72 million in 2008-2010 an...
Hidroelectrica To Register Negative Cash Flow In 2012
Romanian state-owned hydropower producer Hidroelectrica, that entered insolvency last week, forecasts a negative cash flow of 1.4 billion lei (EUR310 million) for the whole of 2012, accordin...