Cataramă raises wages for the first time since onset of crisis
Businessman Viorel Cataramă, who controls furniture industry business Elvila, says this year he raised wages at his factories for the first time since the crisis began, and is set to do the same for the stores in the second part of the year.
The Elvila group, which comprises three factories and 57 stores,
has less than 2,000 employees, with the most extensive stage of the
restructuring taking place in 2009, when the businessman let 500
employees go. The company plans to open six stores this year,
having allocated more than 0.5 million euros per each store, a
self-funded investment.
"I think the market will not continue to fare this poorly for 25
years," says Cataramă, who expects the industry to recover in
September, but more visibly next year. However, in the first two
months of the year, the market fell by over 10%, the lowest level
reached this century."
Elvila last year posted an over 100 million-euro turnover last
year, up 5% on 2009, and has budgeted a similar growth for this
year.