Silvarom Bucuresti, one of the leading Romania-based furnituremanufacturers, set itself as a target to cut costs by 20%, with abudget calculated on a monthly basis for each department of thecompany. The cost cut is similar to the sales decline recordedsince the beginning of the year. "We have set ourselves spendingcaps, for every department and for every individual cost. For theproduction department, for instance, costs are not to exceed 95% ofthe sales made by the department," said Ioan Marginean, Silvarom'sfinancial manager. One of Silvarom's departments set a monthlybudget of 226,000 euros (950,000 RON per month or 7.6 million RONover 8 months), which means spending cannot exceed 214,000 euros.As concerns salary costs, the company's almost 400 employees go onunpaid leave for a week per month, with Marginean saying this is amethod of averting redundancies.
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