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Iranian companies to lay off 20 percent of workers

Business Materials 18 October 2011 17:14 (UTC +04:00)

Azerbaijan, Baku, Oct. 18 /Trend A.Gurbanova/

The production unites in Tehran will fire 15 to 20 percent of workers in current solar year (started on March 20, 2011), ILNA reported quoting member of workers union Faramarz Tofighi as saying.

"The country's production units and factories intend to lay off workers due to financial shortages," he said.

The government has not fulfilled its policy to create jobs, while the Ministry of Labor and Social Affairs has not increased the salaries, Tofighi added.

Previously the head of contract workers union, Fathollah Bayat, said currently 80 percent of contract workers lives under poverty line with monthly salary of less than $360.

Iranian President Mahmoud Ahmadinejad said earlier that government should create 2.5 million new jobs this solar year to reduce unemployment rate of the country.

A total of $40 billion was invested from bank sources to create jobs and boost government plan to create early profitable jobs

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