Romania’s Petrom May Cut 4,000 Jobs Besides Annual Layoffs – Sources

Contacted by MEDIAFAX, Petrom representatives said that, depending on the evolution of the financial crisis, the company might cut other jobs than those stipulated in the restructuring program, after talks with trade unions.

In December 2004, Petrom was privatized and became a part of OMV AG, which is the majority shareholder. According to the restructuring program, Petrom should annually lay off a number of employees.

At the time of the privatization, Petrom had 50,010 employees, decreasing to 43,546 in 2005 and 32,837 in 2006. Then, in 2007, the number of Petrom’s employees rose by 10,000 people by taking over maintenance operations from gas and oil sector service provider Petromservice.

Petrom representatives refused to disclose the number of employees at the end of 2008, saying the information will be available in February, alongside the company’s financial results.

According the company’s personnel strategy, at the end of 2009, Petrom should have 22,630 employees.