CEZ Romania announces massive layoffs at Electrica Oltenia

CEZ Romania, the local arm of the Czech energy group CEZ, owning in Romania the electricity distributor Electrica Oltenia since 2005, is to send home 300 employees next year with a view to restructure the company, president Jan Veskrna said today.

He said the company, whose workforce accounts for some 3,000 people, has way too many employees compared to other firms involved in similar businesses in the other EU countries and ruled out any economic motivation for these layoffs.

Veskrna said the other foreign companies operating in the power sector in Romania, namely Enel and E.ON., owners of former Electrica Moldova, and Electrica Banat Dobrogea respectively, are also considering trimming their workforce.

CEZ Romania voiced in late July this year its interest to get involved in the building process of reactors no. 3 and 4 in Romania’s sole nuclear plant in Cernavoda.