Romanian contractor working for Chicco closes operations and fires 261
<p>Italian group Artsana SpA decided to close down in November the factory it operates in northeast Romania, in Botoșani, according to documents consulted by <a href="https://www.economica.net/artsana-romania-care-a-produs-la-botosani-articole-sub-marca-chicco-se-inchide-261-de-angajati-au-fost-disponibilizati_781174.html?mc_cid=5f509423c9&amp;mc_eid=607bd7d763" rel="noopener" target="_blank">Economica</a>.</p>

<p>It employs 261 people there and produces parts for the global group Chicco.</p>

<p>The Italian group decided to close operations in Romania because of the lower volume of orders and rising production costs.<br />
Artsana Romania reported its turnover dropped by 27% y/y to RON 30.5 million (EUR 6 million).</p>

<p>The company has been in the red for two consecutive years, with RON 8 million losses in 2023.&nbsp;</p>

<p><em>(Photo:&nbsp;<a href="https://www.dreamstime.com/andreyyalansky19_info">Andrii Yalanskyi</a>&nbsp;|&nbsp;<a href="https://www.dreamstime.com/photos-images/layoffs.html">Dreamstime.com</a>)</em></p>

<p><em>iulian@romania-insider.com</em></p>