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Companies tighten belts to cope with crisis

2nd February 2009
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It's not only the government who is preparing to fight the financial crisis - companies are also on the lookout for savings

According to a Rzeczpospolita poll, it is not just the government preparing to fight the crisis, but also companies, which are on the lookout for savings. Only 24 percent of employees believe that their firm will be immune to redundancies, around 16 percent have heard gossip that there could be layoffs in the companies and institutions in which they work, while half are sure that no decisions have been made as yet.

"This is a rather optimistic picture," said Leszek Pawłowicz of the Market Economy Research Institute (IBnGR).

Apart from talks with the Minister on Friday, PM Donald Tusk has announced a freezing of wages for the highest officials in the country. "We shall also propose freezing subsidies for parties," said the PM.

According to Rzeczpospolita, the Infrastructure Ministry might entrust some sections of express roads to private companies with budget savings estimated at zł.3-4 billion. Companies also fear that government cuts could lower orders.

Source: Rzeczpospolita


From Warsaw Business Journal


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