Romanian Transp Min, Railway Unions To Continue Talks, Layoffs Possible

Romanian Transport Minister Anca Boagiu met Tuesday with railway sector union leaders and the two parties agreed to continue talks towards raising the efficiency of the state-owned railway companies, through layoffs, European fund absorption and cost cuts.

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The minister plans to encourage investments, cut expenses and improve revenue collection, in accordance with the targets provided by the Government's agreement with the International Monetary Fund and the European Commission.

"We won't manage overnight to bring these companies back to the situation in 2000, the last year without losses, but this efficiency plan is the only option we have to save them," said Boagiu, arguing that a few thousand layoffs are preferable to the companies' bankruptcy.

The minister also made the general managers of companies under the ministry's authority responsible for meeting efficiency targets.

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