state run companies

Romania’s Government decided to set at 8,000 lei (EUR1= RON4.2254) the maximum wage cap for employees of state-run companies, and 90% of the sum that exceeds this ceiling will go to a solidarity fund, people with direct knowledge of talks told MEDIAFAX late Wednesday.

The budgets of Romanian state-owned companies will be reevaluated, as a first step towards reducing salaries, but the budgets of companies that have already been restructured will not be reevaluated, Romania’s Government spokeswoman Ioana Muntean said Wednesday.

Romanian Prime Minister Emil Boc on Wednesday called for 25% wage cuts for employees in state-owned companies, including the country’s state-owned banks, Eximbank and CEC Bank.