Restructuring events
European Restructuring Monitor (ERM)
The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
Romsilva, a state-owned company responsible with the management of forestlands, plans to cut 421 jobs by the end of January 2022. Out of the 415 employees due to receive redundancy decisions, 223 are workers and 192 are Technical, Economic and Socio-Administrative staff, of whom 144 are forestry staff. The job cuts are part of a wider restructuring process.
From the trade union perspective, this dismissal is illegal, immoral and untimely, as Romsilva’s 2021 financial results indicate that the company registered higher than estimated profits. In November 2021, the union challenged in court the decision of the Board of Directors of Romsilva which approved the methodology for the restructuring process. As of January 2022, there are two pending lawsuits around the restructuring process. The union also fought to increase the redundancy payment received by workers in case the restructuring process will be implemented.
Romsilva was established in 1991 and is responsible with the management of forestlands. The company has a workforce of 15,248.
Eurofound (2022), Romsilva, Internal restructuring in Romania, factsheet number 106173, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/106173.