Over 44,000 layoffs by March 2009

Areas which will be most affected by layoffs include Galati (3,578), Timis (2,686), and Arges counties (2,133), and the city of Bucharest (2,632). Trade unions have proposed a set of measures to limit the number of unemployed and help relaunch the economy.

“The lack of strong and coherent macroeconomic measures will lead to a drastic drop in general revenues and the monetary mass in circulation, which will result in the generalization of a major contraction of the job market in the region,” said Adrian Izvoranu, Director of the Alliance of Employers Confederations in Romania (ACPR). Izvoranu added that redrafting the budget and allocating funds for investments, attracting all European funds available, and simplifying the pre-financing mechanisms, combined with a fiscal policy oriented towards entrepreneurial development are some of the solutions which could help protect the workforce.