05.08.2014

Romanian Prime Minister Victor Ponta said Thursday that loan restructuring will be optional for both banks and individuals and the measure will probably be applied starting July 1, 2014. more

04.24.2014

Romania's state-owned railway company CFR SA is seeking a consultant to draft and implement a detailed restructuring plan under a EUR1.23 million contract to be financed using part of a loan from the more

12.27.2013

Romanian drilling company Dafora Medias (DAFR.RO) announced that it restructured all its loan and leasing contracts. more

09.30.2013

Leonardo, the largest Romanian footwear retailer, has reached its last year of reorganization after the debt-mired company entered insolvency in the second half of 2009. more

07.09.2013

The management of Romanian state-owned airline Tarom is considering downsizing the company’s staff, lowering wages and eliminating flights to conflict zones, including Egypt, Tarom CEO Nicolae more

06.28.2013

The first ten largest insurance companies in Romania employed an average of 12,000 people last year, 1,000 fewer than in 2011, as they continued restructuring their business, hurt by the crisis. more

06.26.2013

Romania’s Government on Wednesday adopted an emergency ordinance laying off nearly 3,000 people in central administration jobs and eliminating vacancies in local and central administration, except more

06.05.2013

Romania’s insolvent state-run power producer Hidroelectrica has been restructured and downsized to seven out of 13 branches, and will cut 300 jobs, lowering the company’s spending on salaries by more

05.29.2013

Romanian firms that amassed new debts to the state budget, after they had their older debts rescheduled, and were recently checked by tax authority ANAF may ask for a new debt restructuring, according more

04.16.2013

Romania’s Government adopted Tuesday an emergency decree containing social protection measures for employees affected by the restructuring of state-owned companies, Economy Minister Varujan more

04.08.2013

About 1,000 employees of insolvent chemical plant Oltchim Ramnicu Valcea (OLT.RO) will hold a protest rally outside the Government building in Bucharest Tuesday, requiring an urgent meeting with Prime more

03.31.2013

Downsizing public administration staff by 15% might also entail layoffs in the central apparatus of ministries, Romanian Finance Minister Daniel Chitoiu said Sunday. more

03.16.2013

Romania’s Health Ministry restructuring project envisages cutting off between three to four thousand jobs "in bureaucracy," but some of them will be redistributed on a skill-based evaluation to more

03.06.2013

A bank like BCR, which has 10% of the national branch network, 20% of the assets, loans or deposits and 15% of the employees in the entire system, cannot be that hard to turn around. It only needs more

11.21.2012

The restructuring of the Romanian banking system has just started and will continue in 2013, Radu Ghetea, president of Romanian banks association ARB and of CEC Bank, said Wednesday. more

08.16.2012

Volksbank Romania, which ended last year with a loss of around EUR95 million according to international reporting standards, has decided to shed almost 170 jobs as part of restructuring measures in a more

08.09.2012

The total losses of the Romanian postal company in the past three years amount to 484 million lei (EUR106.6 million) and the company risks to collapse if its restructuring plan is not successful. more

07.06.2012

State-run postal company Posta Romana is one step away from insolvency unless it goes through a deep restructuring of its activity, after it cumulated losses of EUR72 million in 2008-2010 and debts to more

06.25.2012

Romanian state-owned hydropower producer Hidroelectrica, that entered insolvency last week, forecasts a negative cash flow of 1.4 billion lei (EUR310 million) for the whole of 2012, according to a more

06.01.2012

Khaled El Solh, one of the founders of cold cuts producer Caroli Foods Group, who has been running the company since the second half of last year, intends to bring the company back to growth after two more

04.19.2012

Romania's tax authority ANAF will be reorganized next year into eight regional branches and, in 2015, its network will be reduced to one officer per county (20% of the current network), while the more

02.23.2012

German do-it-yourself company Praktiker, which operates a 27-store network on the Romanian market, has reduced the number of employees from 2,500 to 2,000, while sales went down to half compared to more

01.19.2012

Romanian aluminum producer Alro Slatina (ALR.RO) Thursday said it is reconsidering all its investments and expenditure, because of the cheap energy deficit, which increased electricity costs. more

12.19.2011

After more than three years during which layoffs, training cost reduction, salary or benefit cuts have been the priorities on the agenda of the human resources managers, the start of 2012 does not more

12.13.2011

Romanian authorities will continue to lay off staff at coal mining company SNLO, cease underground activity, remove positions created through direct employment and send staff into furlough, while also more