The plan to restructure one of Romania’s thermal power producers, Complexul Energetic Hunedoara will include layoffs, but employees will benefit from compensation payments, said the Energy Minister Andrei Gerea, cited by local Economica.net.

The company’s restructuring plan should be due by September.

In February, the International Monetary Fund, the World Bank and the European Commission asked the Government to massively and radically restructure Romania’s two largest thermal electricity producers, Complexul Energetic Oltenia and Complexul Energetic Hunedoara. The Government  initially declined the proposal, but in the end agreed.

Complexul Energetic Hunedoara covers about 7% of Romania’s energy consumption and has about 6,500 employees.

editor@romania-insider.com