Electrica has started a procedure to reorganize the structure of the headquarters and a final decision will be taken after discussions with the social partners, according to a report by the company, submitted to the Bucharest Stock Exchange.

“Following the appearance in the public space of some information regarding the activity of Electrica SA, we make the following clarifications: The reorganization procedures are complex procedures, strictly regulated by law, which involve the preliminary stages of final approvals that would end with the reorganizing. As for Societatea Energetică Electrica SA (“Electrica”), the parent company of the Electrica Group, it is currently carrying out the incipient stages of a reorganization procedure that is limited to the organizational structure of Electrica’s headquarters,” it is shown in press release.

Next, after completing these steps, including consultation with the social partner, the competent corporate structures have to analyze and decide accordingly, according to Agerpres.

“Depending on the outcome of the next steps and, if necessary, the corporate decisions that will determine the final and precise elements of a possible reorganization process, Electrica will ensure proper information to stakeholders,” company officials said.

According to local media, a third of the HQ personnel will be dismissed.