It’s not the sort of news office developers will want to see, but Aviva has cut staffing by 10% in Romania and worked out rent reductions in an attempt to cut costs. The company has seen a 20% to 25% drop in sales over the year.
Several insurers made personnel cuts this year. Omniasig, the second-largest player on the general insurance market, cut its employee numbers by 200, i.e. 11%, currently operating with 1,600 staff. In addition, the insurer closed down 47 territorial branches of the over 270 it had across Romania. Another example is Ardaf, a company that cumulated 100 million euros in losses over the last three years, and which has recently decided to reduce the number of employees by 164, accounting for 12% of the total, as well as switching 500 agents to commission-based contracts.