EMCC European Monitoring Centre on Change

Petrom

Company/Organisation:
Petrom

Geographic Location

Country: Romania
Location of affected unit(s): Romania

Company

Sector: Manufacturing
Manufacture of coke, and refined petroleum products
19.2 - Manufacture of refined petroleum products
Number Employed: 33600
Group: OMV

Employment Effects

Announcement Date: 09-01-2009
Planned Job Reductions min: 3000
Planned Job Reductions max: 3000
Type of Restructuring: Internal restructuring
Employment Effect Start: 01-02-2009
Direct Dismissals: 3000

Additional Information

Oil producer Petrom, the Romanian subsidiary of the Austrian group OMV, is to lay off 3,000 employees in Romania as of February 2009. The job cuts are reported to be more the consequence of the firm's privatisation in 2004 than a direct result of the economic crisis. At that time, the company was state-owned. In 2008, the company reported a turnover of 3.5 billion euro.