A Third Of Romanian Companies To Make Layoffs In ’09 – Survey

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The reduction of salary budgets is grounded on the companies’ weaker financial performance, envisaged by almost 30% of the respondents.

As regards the estimated financial results, 14.8% of the respondents forecast growth in 2009, despite the economic crisis, while 19.7% see stagnation.

Also, 21.3% of the respondents have "no clue" about the further trend of the financial results, which is a very high share compared with 1.4% in Central and Eastern Europe, according to Svetlana Simidchieva, Hewitt Romania’s representative.

To cut costs, 52.4% of the companies will stop hiring, while 49% will freeze salaries. Also, 32.7% of the companies will lay off staff, while only 8.2% of the companies envisage salary cuts for managers.

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Around 36% of the companies will increase the salary-hike intervals.

As regards the 2009 salary budget, around 41% of the respondents said they would cut funds this year, while 46% would keep the 2008’s level. Only 13% of the respondents plan to make salary hikes in 2009.

The survey was made this spring and was completed in April, on 61 local and multinational companies.