COMPANIES ECONOMY ENERGY

Energy Minister Victor Grigorescu : Oltenia Energy Complex to have new organigram that reduces management positions

Energy Minister Victor Grigorescu, said Wednesday in a press conference in Targu Jiu, that a new organigram would be completed for Oltenia Energy Complex (CEO), which provides also for cutting some management positions, so that the decision-making process should be as efficient as possible.
‘The plant needs a streamlining plan that is the task of the executive management. I expect this plan shortly,’ said Victor Grigorescu.
The energy minister also said that CEO is not in insolvency, although it is going through a difficult economic period, pointing out that the company ‘has a future and has proven many times its potential’.
CEO last year incurred losses of 895 million lei, by 30 percent higher compared to the negative result recorded in 2014, when the company saw net losses of 693 million lei.
CEO decided in mid-March the reduction or the interruption of activity in each of its branches or subunits, both in the energy sector and in the mining one until June, including, a reason why 670 employees at its two branches in Craiova will be made redundant.

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