The Romanian Government has approved the collective dismissal of 500 employees at the power producer Termoelectrica. Their employment contracts will be ended in two stages. The first stage will be applied this month in June, for 200 employees, according to the newspaper Wall Street.
For the other 300 employees of Termoelectrica included on the dismissal list, the procedures will begin in November. Thermoelectrica is controlled by the Ministry of Economy, and has about 12,000 employees. Unfortunately for the affected workers, it’s on the list of companies being monitored by the International Monetary Fund and according to government commitments to the IMF, it should be restructured.
In a World Bank report, in 2011 Termoelectrica made a loss of RON 203,000 per employee.
