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Greek commerce sector report paints bleak picture

Employment in the Greek commerce sector shrank by over 12 percent in the past year and there is going to be no improvement in 2013, a report by the sector΄s main association claims.

In a preview of its annual report, set to be released Monday, the National Confederation of Greek Commerce (ESEE) says the sector lost 93,500 jobs in the past year, or 12.2 percent, with the total number of employees in the sector, at 673,400, the lowest since 1999, the Associated Press reported.

The report says that most jobs were lost at bigger commercial firms; 8 in 10 small firms chose not to lay off personnel.

According to the report, 7 out of 10 businesses expect sales and profits to slide further in 2013, while 6 out of 10 struggle to meet payments.

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One comment

  1. The report says that most jobs were lost at bigger commercial firms

    This looks in contradiction with this report a couple of days ago:

    Greek firms trim salaries and jobs

    Almost half of all Greek companies have resorted to pay cuts and layoffs this year, against just 9.1 percent of multinationals in Greece that have slashed wages and 17.9 percent that have reduced their staff, a recent survey of 165 companies in Greece by Aon Hewitt has shown.

    The survey, conducted from April to July, concerned some of the most productive economic sectors and found that there were only 26.5 percent of companies that bucked the trend and raised salaries. These were mostly in the sectors of high technology and pharmaceuticals.

    The average rate of pay cuts by companies that opted for the method to curtail operating costs amounted to 11.8 percent.

    “Wage trimming now concerns the majority of sectors in the economy,” the head of the salaries and benefits department at Aon Hewitt, Maria Stavropoulou, commented. , Wednesday November 14, 2012 (22:48)