Survey: Over 60% Of Romanian Private Companies To Fire Staff In ’09

More than 60% of the private companies in Romania plan layoffs in 2009 in order to reduce costs, while 75% of them already cut their salary budgets, according to a survey of US research company Hewitt Associates. The budget cuts forecast for 2009 are due to the expected impact of the economic crisis upon the company, anticipated by 71% of the respondents, and in order to lower overall expenses.
In order to cut expenses, 63% of the respondents said they will resort to layoffs, and 47% will cut variable payments.Also, 29% of the companies will promote less employees, 25% will cut bonuses for executive staff, and 4% will cut the managers’ basic salary budget.(www.mediafax.ro)

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