The General Meeting of Shareholders of energy complex Oltenia approved this Tuesday the company’s new plans, among which is the layoff of 1,000 employees in 2017, according to Hotnews. The initial plan was to lay off 2,000 staff.
Fondul Proprietatea, the minority shareholder, requested the layoff of 2,000 employees, while the Energy Ministry, the majority shareholder, approved the proposal of the company’s board of laying off 1,000 staff out of the over 14,000 it currently employs.
The General Meeting of Shareholders should have taken place on Monday but it was postponed for Tuesday.
Last year in July the shareholders of the company approved a layoff plan of 4,000 people, out of which 2,000 in 2016 and 2,000 in 2017. The plan was not carried out.
The Oltenia Energy Complex ended 2016 with losses of RON 126 million, an improvement compared to 2015, when it registered losses of over RON 900 million.