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Intl Fincl Turmoil To Cause Layoffs In Romania – Businessmen

The international financial turmoil could trigger layoffs in Romania, as local companies are already revising their costs and staff structure, but some companies, especially the market leaders, could take advantage to create new business opportunities, according to the country’s businesspeople.
Intl Fincl Turmoil To Cause Layoffs In Romania - Businessmen
20 oct. 2008, 14:34, English

"The market leaders will manage to overcome the crisis. The small and medium sized companies will be the most affected. Everybody revises the costs and staff structure and thus we will face layoffs. Unemployment is not a bad thing, as companies will have better selection grounds for their staff. When was the last time we talked about unemployment in this country?," Dragos Dinu, ex-CEO, and currently consultant, of pharmaceutical company A&D Pharma said Monday, at the presentation of Who’S Who in Business Romania 2008, a catalogue with the top 1,000 businesspeople in Romania, published by economic daily Ziarul Financiar.

Dinu said that some companies envisage personnel layoffs on sales decrease.

The financial crisis is seen as an opportunity for the powerful companies and a selection method on the market, but not many local businesspeople are seeing this.

"The crisis is an opportunity, it will sort the newly entered entrepreneurs. The upcoming crisis will create the future companies in Romania. The Romanian business environment mirrors sweat unconsciousness, as one can see some middle managers migrating to entrepreneurship, lacking a business plan and making no forecasts on the future clients; they will soon fail. The crisis will make a selection of these entrepreneurs," said Mihai Ghyka, former CEO with InBev Romania brewer.

The catalogue Who’S Who in Business Romania 2008 – The top 1,000 businesspeople in Romania was drafted by Ziarul Financiar daily. It includes top management people in the most important economic sectors, as well as Romanian entrepreneurs and consultants who are now counseling the most powerful companies on the market.