The month of November was marked by swells of massive layoffs at some of the biggest Romanian companies with the biggest cuts in car manufacturing industry, petrochemical industry and fast-moving consumer goods industry.
Map of economic crisis
Chemical company Oltchim Ramnicu Valcea announced massive layoffs in the next quarter. Oltchim estimates it will cut workforce by 550 in December 2008, and 200 employees are re-engaged pensioners, while 350 of them meet all conditions of retirement.
The decision made by Oltchim SA board is reasoned by 40% production cut scheduled for November.
ArcelorMittalGalati’s 2,800 employees will take voluntary layoffs for a limited period due financial crisis, NewsIn informs. According to a source that attended Mittal’s media briefing when the company announced the layoffs, approximately 50% of the 14,000 employees will be affected by the production cut measure.
By yearend, several steel plants with nearly 5,000 steelworkers will be idled, following that in first two months of 2009, all employees will take by rotation 10-days voluntary layoff.
Managers of the company said these decisions were rooted from the urgent need to limit the meal vouchers payment worth 83 lei, which are granted only in the days employees arrive on time. Following this measure, ArcelorMittal Galati will save around 330,000 euros.
Romanian chemical fertilizer supplier Azomures will force employees to take voluntary layoff for a period of time, and announced a 50% cut of production. The board of the company also announced the possibility of 2,000 job cut in the following year.
Trade union leader of SC Avioane Craiova SA, Victor Peta said the approximately 680 employees of the aircraft factory will be forced to take layoff until February 2009, by rotation in a move to cut expenses across the company. Peta added the