The leader of the local oil market is confronted with massive demands from former and current employees regarding the payment of bonuses, considered overdue. The number of complaints amounts to 50,000. “While the company had 20,000 ongoing or finalized litigations in February, Petrom is now faced with some 50,000 complaints, with these involving Christmas and Easter bonuses to gas or pickle bonuses. Some law suits are finalized, others are ongoing, but what is certain is that their number is growing with every passing day,” sources in the law market told Business Standard. The oil company has provisions worth some €353 million, as a precautionary measure in the event that the loss of law suits leads to large payments to former or current employees. “The provisions Petrom set aside for litigation initiated by former and current employees have a considerable value - RON 1.3 billion - and have had the highest negative impact on the company’s results,” according to Petrom’s 2008 annual report.
Petrom officials say that some decisions have been in favor of the company, some employees have withdrawn their complaints, and others have even paid back the money, once the management sent them two letters stating the negative impact that the continuation of such lawsuits can have in this year of crisis. However, lawyers representing Petrom in these litigations are not so optimistic. They say that the number of litigations soared recently, and that they have to meet once every two weeks to prepare their defense strategy.
