Archive » September 2008 » 17 September 2008 The english news from 17 September 2008
Companies lower salaries to focus on retaining personnel
Increasingly more companies tend to resize their salaries' budgets, as they would rather invest more in current employees and pay lower wages when recruiting new workers. The effects are already visible, as annual turnover in multinational companies declined to 17 percent in 2008, compared to 21 percent in 20078, according to a study by human resources consulting company Mercer…
Ion Tiriac: Romanian managers three times more expensive than in the West
Romanian entrepreneurs pay local managers three times more than in west, believes Ion Tiriac, one of the richest men in Romania, whose fortune is put at approximately 3 billion euros. Tiriac currently owns real estate, automotive import and retail, airline and leasing businesses and is also a shareholder of UniCredit Tiriac Bank and of the Allianz Tiriac Asigurari insurance company…
Mugur Isarescu: Slowdown of economic growth is not recession, its politicization
The slowdown of economic growth but its maintenance within a positive rhythm that for some is too low does not mean recession but rather politicization, Mugur Isarescu, the Governor of the National Bank of Romania (BNR), stated yesterday within the 'Young Economists' conference…
Bankruptcy at Lehman Brothers triggers crash of Romanian stocks to 3-year minimums
"The domino effect" created by the bankruptcy of American investment bank Lehman Brothers caused slump to a 45-month low on the Bucharest Stock Exchange where financial companies sank an average 9 percent, the steepest fall in the past 16 months…