Massive layoffs in the pipeline this year

Private companies operating on the local market plan axing almost 9,000 jobs this year, more than half of which with landline telephone operator Romtelecom and with Banca Comerciala Romana (BCR).
Romtelecom, controlled by the Greek OTE, will dismiss between 2,000 and 2,500 employees, which is 20 pct of the total personnel. Romtelecom director general Yorgos Ioannidis said that the laid off will get help to find a new job and that depending on their length of service, they will also receive up to 40 reference wages in severance benefits.
Some 7-8 years ago, Romtelecom was employing around 45,000 people, but after successive lay-off waves, the company will remain with a 10,000-strong personnel.
While branch networks on the local banking market keep developing aggressively, which requires further hiring, BCR is to ax this year 2,400 jobs.
Majority shareholder Erste Bank says this measure is aimed at re-organizing, relocating and rendering the institution efficient. BCR workforce is to reduce from 10,600 in June 2007 to 8,200 by the end of the year.

The largest steel processing plant in the country, ArcelorMittal Galati (east), will too sack almost 1,000 people as part of the restructuring process.
Another 1,000 workers will lose their job at the RAFO Onesti Refinery (east), owned by Russian businessman Yakov Goldovsky, through the firm Calder-A.
The shutting down of industrial capacities will affect 300 employees of the Bunge oil plant in Iasi (northeast) and 200 workers from the Brasov-based Colgate-Palmolive plant (center), writes daily Gandul.
Cellulose manufacturer Celhart Donaris Braila (east) will also lay off 200 people due to the company seeing higher losses in the last year.
In the state-owned sector, the public forest management corporation Romsilva plans massive job cuts of some 4,100 positions, due to the shrinking area under forest and forest return to private owners in the last years.
The main causes of massive layoffs in national economy are either financial difficulties that forced industrial units to shut down, the relocation of the production activity or the restructuring and reduction of wage outlays.
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