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Top Brands Distribution boss: Layoffs wouldn't have made any sense

Top Brands Distribution boss: Layoffs wouldn't have made any sense

Autor: Adelina Mihai

04.05.2011, 23:37 84

Wael El Ghadban, one of the three biggest Lebanese investors inRomania, who controls Top Brands Distribution, with turnover worthabove 320m euros, says the biggest income of an employee in hiscompany stood at several tens of thousand euros per year, similarto the pay packages received by top managers.

"Half of the company's expense budget is accounted for bysalary expenses. The gross monthly average salary at the companystands at 1,000 euros (700 euros in net amount), sales bonusesincluded."

The group run by El Ghadban employs around 600 people. ElGadhban says he did not need to take restructuring steps,considering that all the 2010 losses will be recouped this year andit would not have made any sense for him to operate layoffs andhave to hire new people and train them again after just severalmonths.

Wael El Ghadban owns 50% in Top Brands Distribution, with therest of shares belonging to Brightlane firm. After the completionof some projects, the company may be listed on the Bourse.

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