Crisis: Cyprus, four in 10 businesses have cut payrolls

11 September, 13:41

    (ANSAmed) - NICOSIA, SEPTEMBER 11 - Over the last six months, over four out of 10 businesses in the Republic of Cyprus have made cuts in their payroll, most of which were small businesses, a new survey has found as reported by Cyprus Mail online. The business survey, presented yesterday, was conducted by the CyproNetwork Consultancy Group and the Cyprus International Institute of Management (CIIM) under the auspices of the Finance ministry, which revealed tendencies and predictions concerning business performance.

    The survey comprised 400 telephone interviews conducted between May 28 and June 17, on a Cyprus-wide basis, with businesses from the trade, services, industry and construction sectors. Seven out of 10 small businesses responded not employing part-time personnel during this time, while three out of 10 said they have not created any new jobs over the last six months. (ANSAmed).

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