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News: Bulgaria>> Railway Infrastructure Operator Announces 30% Temporary Wage Cut

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Railway Infrastructure Operator Announces 30% Temporary Wage Cut

Transport: Tuesday, 2009-09-01 14:10
Article by: BTA

The Railway Infrastructure Company announced Monday a temporary 30 per cent wage cut valid from September 1, CEO Anton Ginev told a news conference that such a measure is allowed by the collective agreement which the company signed with the unions earlier this year. He also explained that the 30 per cent remain due and will be paid after January 1, 2010, with the statutory interest.

The temporary wage cut is the first of a package of anti-crisis measures which the company has prepared in a bid to deal with a 50 million leva deficit, said Ginev. The first half of 2009 saw its receipts slashed by 20 per cent and the shortfall in the wage budget totals 35 million leva.

Thirteen of the rail links operated by the company make sizeable lossed - over 8.5 million leva - but shutting them down is an extreme decision that the company is not in a position to make, said he.

Before September 2 the company workers will get a portion of their August wage and the July wages are due by the end of the same month.

The trade unions say that most of the measures in the company anti-crisis package are unacceptable. Union leafer Peter Bounev said that closing the above mentioned 13 loss-making rail links will involve the shedding of 644 jobs and that reducing the staff in the other links will put to risk the security of rail traffic. The unions call for job cuts in the administration instead.

Scope: Bulgaria
More: news railway transport;

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