Over 26,000 new jobs were created between 2005 and 2008 by thetop 50 privately-held Romanian employers and by companies whoseowners have dual citizenship and whose business is largely focusedon the Romanian market. The need to cut costs prompted the biggestRomanian-held employers to make almost 10,000 redundant, i.e. onethird of employees they had recruited over three years. Mostredundancies occurred in industry, especially in constructions andtextiles, with the biggest number of people recruited in the IT,banking, and FMCG sectors.
The 300 biggest employers together have 800,000 employees, withonly 10% of employees on the Romanian market working for Romanianprivately-held companies.
Among the top 50 Romanian-held employers there are companies thathave cut their number of employees by more than 1,000 in the lastfour years, which mostly operate in sectors strongly affected bythe economic decline. Hidroconstruc]ia, the second-largestconstruction company on the Romanian company in terms of 2009turnover, shed 1,400 jobs in the last four years.
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