Bechtel lays off 700 due to lack of financing

Bechtel will lay off 700 of the roughly 2,000 employees who work on the Transylvania Motorway due to lack of financing and delays in payments for the works carried out in 2009, reads a release of the US contractor.

"The employees hit by the collective redundancy decision will get the equivalent of two monthly salaries in compensation payment," reads the Bechtel release.

"It's regrettable that we had to resort to this measure. Unfortunately, the amount of works is not enough for us to keep all employees, so that we had to make this collective redundancy decision. I would like to stress that we tried to minimize the impact of the collective dismissal and keep as many people as possible," said project director Michael Swinford.

AGERPRES