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Nine Romanian Railroad Companies To Undergo Restructuring, 4,000 Layoffs

The Romanian Ministry of Transport will begin, in the next three months, restructuring nine railroad companies detached from mother-companies, in a process that involves the layoff of some 4,000 employees, said deputy secretary of state within the ministry, Constantin Axinia.
Nine Romanian Railroad Companies To Undergo Restructuring, 4,000 Layoffs
26 feb. 2009, 16:58, English

"In three months we will begin restructuring in nine railroad companies, detached from mother-companies, which are generators of payments, their sole beneficiary being the very companies from which they were detached," Axinia said.
 
The nine companies include CFR IRLU, IMC, Telecomunicatii CFR and SC Baza de Aprovizionare, while the mother companies are CFR SA, CFR Calatori and CFR Marfa.
 
According to Axinia, one company registers monthly losses between two and four million lei.