Romanian Termoelectrica To Lay Off 300 Employees

State-owned thermal power producer Termoelectrica will lay off 300 employees from two branches, under a restructuring plan approved by shareholders on June 16.

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The company will lay off 180 people from the Doicesti unit and 120 people from the Borzesti unit, according to Termoelectrica.

Termoelectrica has three branches (Electrocentrale Deva, Electrocentrale Bucuresti and Electrocentrale Galati), four units (Paroseni, Doicesti, Borzesti and Braila) and over 12,000 employees.

The two units, Paroseni and Barila, will be turned into branches, thus becoming firms.

Termoelectrica's restructuring plan was agreed by authorities with the International Monetary Fund.

In total, the Economy Ministry plans to lay off 1,480 people this year, from the energy companies it controls.

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