The survey was conducted in February 2011 in a sample of 113 private companies form different sectors of the Greek market.
38% of the companies gave zero increases in the year 2010, and 43% will give zero in 2011.
The average given salary increase is 1,4% in 2011, while it was 1,9% in 2010.
The most vulnerable sectors are those of Automobile and Retail, where predictions for zero increases are at 67% for Automobile and 50% for Retail.
The companies to proceed to wages cuts are mainly Greek-owned and the reductions refer mostly to management level are 13,3% and 12,4%.
I though we are out of recession, as the Prime Minister assured us just yesterday. Hm….
