CFR continues to post losses in H1 2009

Several of CFR Marfa’s most important clients, such as ArcelorMittal Galati, Oltchim, Doljchim or Azomures have halted activities. The company announced it would lay off some 8,500 employees by 2010. “The 8,500 employees means some 35-40 percent of the salary funds,” according to a declaration for Business Standard by Mihai Frasinoi, General Manager of CFR Marfa.

CFR Calatori also reported that traffic was down 13.1 percent compared to H1 2008, with representatives indicating that they believe the decline to be due to travellers opting for another type of transportation, namely cars, due to lower costs.

Metrorex, on the other hand, reported growth in terms of transport capacity (19 percent) and productivity, rather than revenue, with the number of employees the same.

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