The company’s number of employees will be cut to 7,450 his year, from 7,703 at the end of 2011.
CNH allotted 7.5 million lei (EUR1.72 million) for severance pay to workers made redundant, according to the company’s 2012 revenue and expenses budget approved by the Government.
Workers’ average monthly wages will rise from RON3,086 last year to RON3,116 in 2012.
Almost 450 miners at coal mines Paroseni, Vulcan, Lupeni and Lonea protested Monday in front of CNH Petrosani, disgruntled that the company management has failed to observe the protocol meant to solve problems in the mining sector.
Last week, the Government approved state aid for CNH Petrosani to close its nonviable mines and lay off around 200 employees this year.
Two weeks ago, the European Commission authorized RON1.17 billion (around EUR270 million) of Romanian public funding for the closure of three uncompetitive coal mining units owned by hard coal company Compania Nationala a Huilei (CNH).
CNH, Romania’s largest debtor, operates seven coal mines and employs 8,800 staff. Four of the seven mines were deemed viable and will continue to operate after the company’s reorganization, while the three non-profitable units are to be shut down in the next years. Petrila colliery is expected to close by the end of 2015 and the other two, namely Uricani and Paroseni collieries, by the end of 2017.
According to Romania’s latest letter of intent to a EUR3.5 billion loan deal with the International Monetary Fund, the government is to launch liquidation proceedings for CNH by end-September. The document shows CNH must transfer its non-viable assets to the national tax authority ANAF by the end of February. (EUR1=RON4.3514)