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Romania’s CEZ Distributie To Cut 110 Jobs In ’10

Romanian electricity distributor CEZ Distributie will cut 110 jobs in 2010, representing over 7% of the staff, the company’s general manager Doina Vornicu told MEDIAFAX Tuesday.
Romania's CEZ Distributie To Cut 110 Jobs In ’10
16 mart. 2010, 14:12, English

Thus, the company plans to have 1,406 employees at the end of the year, from 1,516 end-2009.

Vornicu explained the layoffs are due to investments in transformation units as well as to the implementation of automatization systems.

Some of the employees will retire while others will receive severance pay, she added.

On the other hand, CEZ Distributie plans to invest 196.2 million lei (EUR1=RON4.0908) in 2010, up 48.6% on the year, mainly in upgrade of its network and transformation units.

CEZ has invested RON1.092 billion in the energy distribution network since 2005, when it bought the former Electrica Oltenia from the Romanian state in a EUR166.5 million deal.

Electrica Oltenia was split after the sale in CEZ Distributie and CEZ Vanzare, to comply with EU norms according to which the supply activity must be separated from the distribution activity.

The company distributed 7 TWh of electricity in 2009, and plans to keep the same value in 2010, Vornicu added.