Petrom, the biggest domestic company, the only Romanian producerof oil and gas, has recently decided to outsource part of its oilequipment repair operations to CDI Oilfields Services, the Romaniansubsidiary of Britain's Smiths industrial group, with turnoverworth above 1.2bn pounds last year. This is not the first such steptaken by Petrom, as the company is interested in slashing costs asmuch as possible. Under the circumstances, outsourcing someoperations is one of the solutions, besides other steps such asputting off some investments or reviewing some targets announced inthe years before the crisis. Through this move, Petrom effectivelymade 270 employees redundant. According to Petrom data, the companylast year had 27,000 employees left, much less than the over 50,000people who worked with the company in 2004, the moment ofprivatisation to Austria's OMV. The representatives of CDIOlifields Services, did not specify the value and the duration ofthe contract sealed with Petrom.
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