Bucharest City Hall’s holding, which has been set up this year and includes 20 companies, will be one of the largest employers in Bucharest.

The municipal holding is called “Bucharest-European capital”. It will have a total number of 8,437 employees, or 0.75% of Bucharest’s active population, according to the companies’ draft budgets, reports Profit.ro.

Its revenues will amount to over RON 1 billion (EUR 218 million) whereas the expenditure will reach RON 988 million (EUR 215 million). Its cumulated net profit will total RON 58 million (EUR 12.6 million).

About half of all employees will work in two of the 20 companies, namely the Municipal Security Company and the Trust of Metropolitan Buildings. Employees will have an average net salary of RON 3,523 (EUR 766.7), 9% higher than the average wage in Bucharest.

The single shareholder of all these companies will be the Bucharest General Council.

editor@romania-insider.com