The lack of prospects for 2010 funding and the outstanding payments for the 2009 works will unavoidably lead to a reduced program of works in 2010, compelling us to resize the necessary workforce of the Project.

Following the consultations with the unions held in the last 3 months, we found no solution for avoiding collective dismissals but only certain measures for reducing the number of people to be considered in the collective dismissal. Moreover, since December 2009 the Project has been making considerable efforts to keep under employment app. 1,200 employees, a significant number of whom we currently have no work for and who we are paying 75% of base salary for them to stay at home.

Thus, at this point in the process, a decision to retain app.1,200 employees and dismiss 700 has been taken. The criteria we have used to establish the dismissal priority order in case of reduction of positions are those provided by relevant Romanian legal norms.

All affected employees will receive a severance payment of two months salary.

“It is with great regret that we took this action. Unfortunately, we have insufficient activities to keep all our employees working so we have been forced to make this collective dismissal decision. I reiterate that we have been trying to mitigate the impact of the collective dismissal by retaining as many employees as possible," said Michael Swinford, AT Project Manager.

"We are committed to working with the Ministry of Transport, Ministry of Public Finances and CNADNR, to find solutions to return to a full level of work. It is our intention to solve all the issues and re-hire all our employees that are already trained and experienced with the Project’s working culture”, added Michael Swinford.