PwC Romania: Share of companies anticipating workforce reductions in 2025 increased
The share of companies predicting a reduction in the number of employees in the upcoming year has increased to 11% in January 2025 from 2% same time last year, according to the HR Barometer survey conducted by PwC Romania.
Fiscal measures taken by the government to reduce the budget deficit, such as the elimination of tax benefits for IT, agriculture, and construction, along with the slowdown in national and global economic growth, have begun to shift the dynamics of the labor market.
Although overall, more employers (47%) anticipate an increase in the number of employees, or stagnation (42%), the percentage of companies expecting workforce reductions has noticeably risen this year compared to the same period in 2024.
At the beginning of 2024, the Retail, FMCG, and Distribution sector was the only one mentioning workforce reductions of 14%, according to the HR Barometer. In January 2025, that estimate rose to 17%.
Moreover, 45% of employers in the IT and telecommunications sectors expect a reduction in employees, and 7% anticipate stagnation, compared to last year, when no employer in this field expected reductions. On the contrary, 81% of respondents predicted increases, and 19% predicted stagnation.
Similarly, 22% of companies in the pharmaceutical sector now expect a reduction in the number of employees, compared to January 2024, when 92% of them predicted growth, and 8% stagnation.
Further reductions are expected in the automotive industry (22%), manufacturing (15%), and financial services (13%).
Regarding salary budgets, the estimated increases at the general market level are 7.3% in 2025, compared to 11.6% in the previous year. Most salary increases are influenced by the individual performance of the employee, followed by the company's performance and market evolution. Only one in four employers adjusts salaries or grants bonuses to reflect inflation or the cost of living increases.
The HR Barometer survey was conducted by PwC Romania between January 14-20, 2025, based on information provided by 130 participating companies from IT and Telecom (22%), outsourcing services (17%), financial services (12%), industrial products (10%), consumer goods, Distribution (9%), retail (9%), pharmaceutical (7%), automotive (7%), and construction (2%).
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