New wave of jobless due
A new wave of lay-offs from large domestic and international corporations hit Romania in October November 2009 - From the Print Edition
French telecom services provider Alcatel-Lucent announced the axing of 564 Romanian employees from a total of 1,600. German-owned MKB Romexterra Bank will fire 300 employees next month December from a staff of over 1,000 in 2008 and will close 40 offices countrywide.
French metal processor for the auto industry Gantois will exit Romania following the decline in car sales, closing two factories in Timisoara. Gantois will lay off 170 employees and relocate back to its facilities in France.
Romanian unemployment continues a steady rise of about 0.3 per cent every month as it reached 6.9 per cent (625,000 people) in September 2009, according to official figures. This is almost double the post-1992 low of 3.7 per cent in June 2008, but less than the post-Communist high of 11.4 per cent in 1999. Most business analysts believe unemployment will continue to rise in 2010. This is due to further companies restructuring and the Government’s deal with the IMF, which implies the loss of 100,000s of workers for the state.
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