EnglishTerom SA - Iasi has hired back 50 employees after having fired them at the end of June, upon completing a personnel reorganization scheme. "The liquidator decided they needed these people for Finance, Accountancy, Utilities, Surveillance etc in order to manage whatever assets are left until a complete sale. The 50 people in question have been hired back for 5 months," said union leader Vasile Cernescu.
The reorganization process started in 2005, shortly after the State terminated the privatization contract signed with Hassan Nanna. The managers appointed by the State Assets Recovery Authority (AVAS) did not contain the ongoing disaster, so liquidation procedures started in the beginning of 2007. By June 25, all employees had been fired. Terom"s debts have been estimated at 70,657,902 RON. The company is currently being liquidated.
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