Romanian Privatization Authority AVAS Laid Off One Third Of Its Employees On May 31

AVAS said in a press release Thursday that the restructuring program will result in a 48% reduction in the number of employees and a 60% cut in the average wage earned by its employees, adding the measures aim to reduce bureaucracy and cut spending.

In December 2009, AVAS reduced its number of employees to 422, from 510, as a first step towards reorganization, followed by extra 155 layoffs on May 31. AVAS eliminated 13 general manager and deputy general manager positions, and cut its number of advisers to ten from 13.

Starting February 2010, AVAS reduced the average gross salary earned by its employees to 3,400 lei (EUR1=RON4.2208) from RON8,500.

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