Seven out of ten employers will cut the wages

Seven out of ten employers are getting ready to either reduce or freeze the monthly wages of their workers, within the next months. This comes as an answer to the staggering financial meltdown Greece is undergoing, while one out of three will move onto firings.

The above mentioned data were published earlier, on Tuesday, as a result of a relevant research, regarding 2,000 businesses, in the country, conducted by the Foundation for Economic and Industrial Research. The businesses in question are employing more than 317,000 workers and produce around 68 billion euros in profits, meaning about 1.3% of the Greek GDP. 

What these big bosses will use as their card to defend their back-yards from the financial upheavals are bonus cuts, price reduction and new rules concerning working hours. Out of the ones who participated in the research, 28% gave a positive reply as far as sacking people is concerned. 

The research was done across Greece and one of the most important negative factors, affecting them was the lack of market liquidity and the minimal number of loans given to them from the banks.

Those businesses which expect an improvement are the ones that export goods, abroad. These are also expecting their incomes to rise, in 2012, compared with the money they made in 2010 and 2011.

Due to the bad omens and the present stiffness, overall, the Greek businesses’ percentage which is said to make investments in the 2012 takes a deep dive and reaches only the poor number of 40% of the total of local commercial firms.

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