OMW Petrom announces that cuts have begun: “We estimate a reduction of approximately 1,000 positions”
OMW Petrom's CEO confirms company-wide staff restructuring figures, announcing that job cuts have already begun. In September, the company announced that it may lay off approximately 1,000 employees.
PHOTO: Archive
Profit.ro announced in September that OMV Petrom may lay off approximately 1,000 employees, following a restructuring decision taken by its main shareholder, the Austrian group OMV, writes News.ro.
At that time, OMV Petrom said that it does not comment on the figures regarding personnel restructuring at the company level, but gave assurances that any layoff measures will be decided according to the law and after consulting the unions.
“OMV Petrom does not comment on the figures regarding personnel restructuring at the company level. All decisions regarding OMV Petrom employees are taken within OMV Petrom, in full compliance with legal requirements and in close consultation with the unions. All restructurings in OMV Petrom are carried out with the granting of social rights according to the provisions of the collective labor agreement at company level“, the company stated at the time.
Now, Cristina Verchere, the CEO of OMV Petrom, confirms the figure regarding the personnel restructuring at the company level.
“Regarding workforce reductions, we assure you that we are looking at the cost challenges. We are looking at the transition to a lower oil price environment. And we have, as we mentioned, programs to increase cost efficiency, which includes looking at the size of the workforce.
I've already made some cuts. We estimate a reduction of about 1,000 positions, of which we are already at half, most of which will be done this year, but some will be done in 2026 and 2027. Yes, we continue to do this and we are working on many measures, already in the process of implementation”the CEO relayed to investors.
OMV has announced a restructuring that will cut 2,000 jobs out of a total of 23,000 (about 8.7%), including 400 in Austria. The measure is part of a savings plan of around 150 million euros until 2027, aimed at reducing costs through simplification and automation.
The decision comes amid a global trend of reorganization in the hydrocarbons sector, after companies such as ConocoPhillips, BP and Chevron announced significant staff cuts.
As 44% (10,158 people) of the group's employees are employed in Romania, it is likely that the number of layoffs will be around 1,000 people.
OMV Petrom increased its number of employees by 25% (more than 2,000 additional employees) in the last year, mainly as a result of internalization of certain operations and maintenance activities in the exploration and production division, reaching 10,158 employees in the middle of this year, from 8,098 employees in the middle of last year. The Romanian company will decide who will leave the group.
The management in Vienna usually proposes a target figure, and the subsidiaries actually deal with the restructuring program, which they then send for approval. Following further additional negotiations, the restructuring programs of each subsidiary are approved. The remaining approximately 600 will come either from subsidiaries in areas where OMV has reduced its presence, or from its refinery in southern Germany or Slovakia.
