Romania’s Government will allocate RON 16.5 million (EUR 3.7 million) to cover the compensation wages of 3,090 employees of the energy groups Complexul Energetic Oltenia, Complexul Energetic Hunedoara, and the Valea Jiului Mine Closure Society, who have been laid off.

Complexul Energetic Oltenia will get EUR 2.8 million worth compensation salaries for 2,000 employees whereas Societatea Complexul Energetic Hunedoara gets EUR 741,000 for 840 people. Valea Jiului Mine Closure Society will receive EUR 186,000 for 250 people.

Complexul Energetic Hunedoara has entered a massive restructuring process that includes closing two of the company’s four operating coal mines.

The company, which has over 6,000 employees, went into insolvency in January this year, as it couldn’t pay its debts, totaling EUR 335 million. The state is the company’s main creditor.

The company decided at the end of March that about 800 people working for coal mining company Minprest Rovinari, owned by Complexul Energetic Oltenia, would be laid off this year.

Romanian energy producer to lay off 5,000 employees by 2020

editor@romania-insider.com