Electrica Serv, the maintenance and energy services subsidiary of Electrica, continues its restructuring in order to streamline the company’s business and expects a 25% lower profit in 2017 compared to 2016. The expenditures for the voluntary leaving program would double, with 923 employees being targeted for layoffs. They would leave the company in two stages: 234 employees until 31.03.2017 and 689 employees until 30.06.2017, according to the company’s income and expenditures budget.

Following the evolution of the revenues and operating costs, Electrica Serv expects in 2017 an operating profit of 3,64 million lei, down by 26% compared to 2016.

By the end of this year there would remain in Electrica Serv about 1.646 employees, 36% fewer than at the end of 2016 (2.569 employees). The budget of income and expenditures for 2017 foresees expenses with layoffs amounting to 50,3 million lei.

The Electrica Serv Board of Directors approved a voluntary leaving program for 500 employees in December 2016, out of which only 266 left by the end of 2016. For the remaining 234 employees, a provision has been registered for the expenses, related to the compensation package worth 12,765 million lei, which will be reversed in 2017 when they will leave.