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Petrom paid 42.5% more for salaries year-on-year in 2008Updated: 22-04-2009 |
Romania's largest company, Petrom, part of the Austrian OMV oil and gas group, paid salaries and benefits worth some €500 million in 2008, and is still negotiating revenue increases for 2009 with trade unions. Petrom had on average 29,861 employees last year, who were paid total salaries worth RON 1.807 billion (€494.58 mln), 42.5 percent higher year-on-year, according to data published in the company's annual report.
The company reported 33,311 employees as of 31 December 2008, being one of the largest employers in the local economy. Of these, 2,297 are hold management positions, indicating a ratio of one manager for every 14.5 employees. According to a study by the PricewaterhouseCoopers financial advisory company in Romania, the manager-employee ratio is similar to that registered in other European countries.Moreover, according to Petrom data for last year, 18.58 percent of the company's managers were women and 4.7 percent were expatriates.
"Two-three years ago, the percentage of expats within Petrom was certainly higher, probably around 10 percent of total managers. Generally, OMV sent many foreign specialists to Romania, who, in time, handed over their expertise to Romanians," said George Butunoiu, human resource specialist and Managing Partner of GB Executive Search. According to Butunoiu, replacing an expat with a local manager usually saves the company up to 60-70 percent of the salary package.
Business Standard
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