ECONOMY

One in four firms to cut staff

One in four businesses is likely to cut staff numbers in the next six months, according to survey results made public yesterday which showed that employment prospects in tourism and construction were bleakest. The survey, put together by Alba business school along with ECDL Hellas, found 25.3 percent of employers are likely to reduce staff numbers with half replying they will keep the payroll unchanged. «The majority of companies expect to reduce activities in the next six months regarding staff recruitment and anticipate a decline or no change in demand for their products or services,» Alba said. Conditions in Greece’s labor market have been deteriorating as the economy heads for its first recession in 15 years. The jobless rate jumped to 9.4 percent in April, from 7.7 percent in the same month last year, the biggest annual rise on record. A breakdown by sector showed the lowest hiring rates were in tourism, construction and industry, with the most favorable outlook in pharmaceuticals and logistics.