Thursday, July 28, 2011

AP: 1,300 jobs to be cut at Romanian energy companies

BUCHAREST, Romania—Romania's government says it will cut 1,300 jobs at three state-owned energy companies this year as it seeks to fulfill conditions it made to secure loans from the International Monetary Fund and the European Union.

In a statement, the government said 900 coal miners will lose their jobs in western Romania in September, and 300 people will be dismissed from a Bucharest heating plant. A further 100 employees will have their jobs axed at an electric plant in the western city of Deva.

In 2009, Romania took a two-year, euro20 billion ($28.9 billion) loan from the IMF, the EU and the World Bank, as its economy shrank by 7.1 percent. Romania imposed harsh austerity measures, including cutting wages and jobs, under the agreement.

1 comment:

ARBITRAJ COMERCIAL INTERNATIONAL - Agentia de Arbitraj said...

http://investments-european-union-romania.blogspot.com/