Romania’s Financial Supervision Authority to cut management positions but not total number of employees

The Romanian Financial Supervision Authority (ASF) will cut the management positions by 35 percent, from 161 to 104, following the introduction of the new organization chart. This however will not have an impact on the total number of employees which will remain close to 600 as it is now. “On May 30, 2014, the total number of employees within ASF was of 597, out of which 161 held management positions (department heads, directors, deputy directors). The new organization chart (which will come into effect on October 1, 2014) doesn’t affect the total number of positions or employees, only management positions, which will be reduced to 104 (directors and service chiefs),” according to an ASF statement. ASF believes that the introduction of the new organization chart will be a longer process, based on legal requirements and the collective labor contract. “Probably in September we will have an estimate on the impact (of the reorganizing process – e.n.) on the total number of employees and on ASF’s budget,” said Misu Negritoiu, ASF’s president. Irina Popescu, irina.popescu@romania-insider.com