Swiss construction firm Implenia to sell or ramp-down operations in Romania

The decision is part of strategy implementation reviews for all divisions, including a re-evaluation of opportuni­ties and risks for all projects, the company said in a press release.

Implenia plans to cut up to 2,000 full-time jobs by 2023, out of which 750 of which would be through lay-offs.

The company also said that the COVID-19 pandemic is continuing to negatively impact its performance. The financial impact of the pandemic is estimated at 50 million Swiss francs (10.2 million euro) for the fiscal year 2020, it added.

Implenia has been present in Romania since 2007 through its subsidiary Implenia Baugesellschaft.

The Romanian unit's net profit surged to 16.69 million lei ($4 million/ 3.4 million euro) in 2019 from 329,636 lei in the previous year, while its turnover plummeted by an annual 81% to 14.3 million lei, according to the latest data available on the Romanian finance ministry's website.

The company employed 77 in Romania at the end of last year.

Implenia is a Swiss construction and real estate services company with building construction and civil engineering operations in Switzerland, Germany and Austria. The company is also present in the infrastructure sectors of Switzerland, Germany, Austria, France, Sweden and Norway. Implenia is also a real estate developer in Switzerland and Germany.

The company employs more than 10,000 people in Europe. It posted a revenue of over 4.4 billion Swiss francs in 2019.

(1 euro = 4.8731 lei)