The Board of Romanian state-owned freight company CFR Marfa has started the dismissal procedures for a number of 2,500 employees, in accordance with its commitments to the International Monetary Fund IMF, reads a statement of the Ministry of Transport.

The Romanian Transport Minister Dan Sova met on April 3 with representatives of the IMF and World Bank, which requested updated information on CFR Marfa’s privatization and the situation of arrears.

This measure to axe 2,500 of its employees previously appeared in the company’s 2014 budget.

Romania tried to privatize CFR Marfa in 2013, but the process failed. GFR was declared the winner of CFR Marfa’s privatization in June last year, but the transaction couldn’t be completed by the October 14 deadline.

Irina Popescu, irina.popescu@romania-insider.com