Romania to axe 1,300 people from three state companies

Romania's Government has approved the massive layoff of 1,300 employees of state companies under the control of the country's Economy Ministry, as previously agreed with the International Monetary Fund (IMF). The 1,300 employees will receive compensation salaries covering the due payments for the next two years. Three state companies have been included in this plan. 900 people will leave the National Coal Company Petrosani, 300 the Termoelectrica company and 100 from Electrocentrale Deva. Unemployed people after massive layoff will receive unemployment social security payments, as well as compensation packages from the companies that performed the massive layoffs. editor@romania-insider.com