German Minister: A New Financial Crisis Poses a Threat to the World Economy
The world economy is facing the risk of a new financial crisis, warned German Finance Minister Wolfgang Schauble, quoted by the electronic edition Politico.
OMV Petrom Slashes 3,000 Jobs amid Global Crisis
Business | January 29, 2009, Thursday // 00:00
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OMV Petrom, Romania's largest oil company, announced they could lay off 3,000 workers, which is about a tenth of the company's workforce, Romanian media reported.
Petrom also said it could significantly reduce the dividends disbursed from the 2008 profit because of provisions set aside for employee-filed lawsuits and depreciation of the investments in Russia.
Petrom is the largest dividend payer in Romania, after having paid 813 million euros to shareholders over the last three years.
Romanian unemployment is expected to rise sharply this year from relatively low levels as companies cut production due to slump in demand caused by the global financial crisis.
Petrom also said it could significantly reduce the dividends disbursed from the 2008 profit because of provisions set aside for employee-filed lawsuits and depreciation of the investments in Russia.
Petrom is the largest dividend payer in Romania, after having paid 813 million euros to shareholders over the last three years.
Romanian unemployment is expected to rise sharply this year from relatively low levels as companies cut production due to slump in demand caused by the global financial crisis.
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