Romanian Iproeb Puts 110 Employees On Technical Unemployment In July

The decision was made by the standing office of the company’s Board of Directors on July 3 and posted ion the company’s website. The measure was taken because the company didn’t get enough orders to keep working at full capacity.

Employees on technical unemployment will be paid 75% of their salaries.

In June, Iproeb Bistrita put 150 employees on technical unemployment in June, 193 in May, 275 in April, 120 in February and 280 in January.
The company management decided to freeze wages and not grant bonuses this year, because of the economic crisis.

Iproeb is 30.79% owned by Electromontaj, Cyprus-based investment fund RC 2 owns 5.83%, while the remaining 63.38% are divided among small investors. The company is listed on the Rasdaq market and has a share capital of 14.2 million lei (EUR1=RON4.2036).