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 employees will receive 80% of their salaries.

Dacia carmaker will idle production in November 20 until December 7. All its 9,000 employees will receive 85% of their gross salary, according to the contract.

Moreover, the employees will receive the meal vouchers afferent to the days the activity has suspended. Leaders of Dacia Plant trade unions said the production halt will seriously affect employees, especially those who have banking loans to return, and hopes for no further layoff included in the board’s roadmap, reads a press release remitted by the company.

Translated by Camelia Oancea