Romanian lender BCR to maintain employees’ net wage

Local lender BCR, the largest local bank based on assets, will maintain employees’ net salaries following the transfer of social contributions. However, the bank hasn’t yet established the implementation method, namely the method it will employ to keep wages at the same level, reports local Ziarul Financiar. “We carefully monitor both the stability and predictability of the legislative framework, as well as the impact that a possible reversal / change of legislation might have on our long-term financial strategy,” according to BCR representatives. The bank had 7,054 employees in mid-2017, down 66 compared to the same period last year. The staff expenses amounted to RON 343 million (EUR 74 million), down 6% compared to the same period last year. BCR spent on average RON 8,105 (EUR 1,749) per month with each employee. The state wants to transfer all the social contributions from employers to employees from the beginning of next year. However, it hasn’t imposed any legal obligation on employers to increase the gross salaries. Bill: Employers in Romania who don’t transfer social contributions risk jail editor@romania-insider.com