* All of the employees of the BSE group will be submitted to a strict evaluation
* The board of the Stock Exchange wants to cut its employee expenses by 10%
* Together with the other companies in the group, the BSE could move to another headquarters, to cut costs
The current management of the Bucharest Stock Exchange is considering reorganization of the BSE Group, after the former Board of Directors also tried to cut expenses.
The Board of the Stock Exchange yesterday adopted a decision for the restructuring and streamlining of the BSE Group, after the managers of the Bucharest Stock Exchange and of other companies in the group met for a secret discussion in a mountain resort, according to sources.
Even though the broad strokes of the plan concern cutting personnel and rent expenses, this could also affect the development strategies of some of the Companies in the group, such as the Central Depository, which had announced that it would need to make major investments over the next years.
"An evaluation of the entire staff of the BSE Group (circa 150 employees) will be done by an independent firm specializing in human resources, as well as an evaluation of the cost of IT contracts, consumables, etc. We will also introduce a unitary procedure for group for negotiating the future procurement contracts on the Group level", Ciprian Zah, a member of the board of the Exchange said for BURSA. Ciprian Zah said that the goal of the reorganization is to cut employee expenses by around 10%, but he does not rule out the possibility of this figure being revised, depending on the results of the assessment.
"We will set the structure and number of employees based on the evaluation report", said Cosmin Gheorghiu, another member of the Board of the Exchange.
Furthermore, the Bucharest Stock Exchange may need to relocate from its current
