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| EFFECTS OF THE ECONOMIC AND FINANCIAL CRISIS IN ROMANIA 09/12/2008 |
| (2008-12-09) |
| Last updated: 2008-12-10 16:06 EET |
According to a recent poll made by the NetJobs website, made public on Monday, two out of three employees in Romania fear the effects the ongoing economic and financial crisis might have on their jobs. Youths aged 18 to 25 working in agriculture, real estate, finance or the telecom industry have expressed the greatest anxiety. And one cannot say their fears are unfounded, given that more and more local and international companies have announced the shutdown of their production facilities in Romania, and employees have been laid off or have even been made redundant.
Dacia Pitesti, the largest car plant in Romania belonging to the French Group Renault, will halt its production activity for the fourth time in the past two months, starting from December 11th until Januray 11th. As of January the 1st 2009, over 600 of the plant’s employees hired under a temporary labour agreement will lose their jobs. The 2009 investment budget of the Dacia car plant has also been cut from 250 million Euro to only 150 million Euro. Those measures have been taken as a result of the recent downfall of the domestic and foreign car markets, as well as of the large inflow of second-hand cars from EU countries. The German car parts manufacturer Draxlaimer has also halted its production activity in its five facilities in Romania until mid-January 2009 and has laid off most of its 17,500 Romanian employees.
The German tyre manufacturer Continental has also announced similar measures to be taken in its five factories in Romania. The textile industry is also confronted with serious problems in the aftermath of the financial crisis. Maria Grappini, president of the Textiles, and Leather Ware Employers’ Federation, has estimated that over 40,000 workers, accounting for about 20 percent of the total number of employees in this field, risk being made redundant in 2009, following the drop in exports.
Many other companies are considering shutting down production, the financial crisis deepening the decline in the textile industry in the last four years. Employers’ associations in the field have requested the setting up of a crisis management group, which should include the President and Prime Minister of Romania, as well as representatives from all sectors of industry and the National Bank of Romania. This group would have to work out a crisis management program as soon as possible and submit it for discussion and approval.
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