Romanian antibiotics producer’s GM aims to double employees’ wages in 5 years

The general manager of Romanian state-controlled antibiotics producer Antibiotice Iasi, Ioan Nani, aims to increase the company’s sales and profitability and be able to double the employees’ wages in the next five years, to stop external migration. He says that the managers not the employees are responsible to increase wages.

“I am working on a business plan until 2030, in which I have considered the hypothesis that, if Antibiotice doesn’t pay an average salary of at least EUR 1,500, by 2025-2030, we risk running out of qualified and overqualified workforce. If now we pay on average EUR 750-800 (net), how much does this business need to grow to reach an average salary of EUR 1,500? We should triple our turnover and profitability,” said Ioan Nani, who has 30 years of experience in the pharma sector, local Ziarul Financiar reported.

His vision is contrary to that of leaders in big companies in Romania, who have been complaining about rising workforce costs. In the last five years, the average wage in Romania increased by 70% to about RON 3,100 (EUR 660) net per month, mainly due to the Government’s decisions to increase the minimum wage and the salaries in the public sector.

Antibiotice Iasi is the third-biggest drug producer in Romania, with a turnover of RON 365 million (EUR 78 mln) and a net profit of RON 34 million (EUR 7.2 mln) in 2018. The company has about 1,400 employees.

(Photo source: Antibiotice.ro)