Coca-Cola HBC Romania To Lay Off 100 Employees In ‘09

"Despite the company’s efforts to meet the changes of the current environment, these are influenced by the economic situation specific to its operating assets and generated costs. Thus, the company is faced with adjusting to Romania’s current economic environment and take all the necessary measures to prevent any causes with potential negative impact upon operations," Radulescu told MEDIAFAX on Tuesday.

A number of 56 of the total 100 employees subject to layoffs might transfer to Coca-Cola HBC suppliers.

The company will offer the sacked employees severance pays amounting between seven to ten salaries, according to the collective labor contract terms.

Coca-Cola HBC Romania currently employs 2,300 people.

The company owns several plants in Ploiesti, Iasi, Timisoara, and Vatra Dornei, after it closed the plant in Oradea city in November.

Coca-Cola HBC Romania reported 11% higher sales volume on the year in 2008, at 198 million unit cases, compared with 179 million cases in 2007.

Coca-Cola HBC is the second largest Coca-Cola bottler in the world. The Greek company announced today that its profit fell significantly in 2008’s last quarter due to deteriorating economic conditions and unfavorable currency-exchange rates, despite the increase in revenues.