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French investors in Romania predict a limited impact of the crisis on turnover

14 April 2020
Economics&Markets
energynomics

The member companies of the French Chamber of Commerce, Industry and Agriculture in Romania perceive a limited impact of the crisis on turnover, but consider that this impact will be prolonged long after the crisis ends, according to a survey conducted by CCIFER.

“The impact of the crisis on turnover is perceived by CCIFER member companies as quite limited, as most companies do not consider that they will be impacted with more than 30% loss on turnover. However, companies believe that this impact will not stop after the crisis is over and it will take much longer than that,” according to a statement from the organization, quoted by Agerpres.

According to the cited source, the first concern expressed by the managers who responded to the survey implies the limitation of the impact of this crisis on the human resource, both from a health point of view, as well as measures related to the protection of incomes and even jobs. Very few respondents spoke about layoffs or about stopping the activity altogether. Most focused on flexibility measures, and some of them even came up with new lines of business and business reconversion so that they could secure jobs during the crisis, the release said.

Thus, 82% of the respondents state that they have taken sanitary measures to protect the staff (telework, cancellation of travel, protective equipment), 52% have taken stand-by measures (freezing of employment, wages and bonuses, etc.), 45% have taken working time flexibility measures (anticipation of paid leave, resort to technical unemployment) and 6% took collective redundancy measures.

“The general tendency is rather a positive one. The morale of the entrepreneurs is at a stable level, of 3.6 on a scale from 1 to 5. Although realized in a moment of great uncertainty, less than 20% of the survey participants declare themselves pessimistic. The vast majority either do not yet have visibility on what will happen, or are rather optimistic in the medium term regarding the evolution of the business they run,” the document shows.

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