Ceramica to lay off one third of its employees, due to the crisis

“Considering the global macroeconomic and financial context, a slowdown in the growth pace of the real estate market and problems in our industry – such as the rise in prices of fuel, energy and other materials, which lead to higher production and transportation costs – we will reduce the number of employees to 280 as of December, in order to ensure the economic efficiency of operations,” said Iulian Mangalagiu, Ceramica Iasi’s General Manager.

He added that the company will provide financial support to employees affected by the restructuring process, depending on years of service and qualifications, and will help them to find new jobs.

The Romanian brick market reached 2 billion cubic meters in 2007, up 30 percent. This sector’s 2008 estimated growth rate, of 10-15 percent, will be below expectations, but will surpass the pace registered on Western European markets, more affected by the crisis.