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Majority of Companies Have no Plans to Increase Salaries

The national currency devaluation continues, and most people’s income is reduced. However, no one thinks about salaries increase. Moreover, companies talk about the fact that due to GEL fall,  business suffers losses  so to maintain wages has become  the main concern for them.

“Business-Rezonansi” survey revealed that companies  are not going to increase salaries  for employees.

“Geo Group” founder Anzor Kokoladze says that  the GEL  depreciation has weakened the population’s purchasing power and  to purchase the technique is no longer a priority. Currency devaluation is a problem for business, which is unable to increase wages in the country.

Against this background, we are not able to increase wages in the near future. This process is also reflected in profitability and many businesses operate at a loss “, – says Kokoladze.

The issue of salary increase is not discussed at  “Tegeta Motors”. The company’s representatives do not talk openly about this subject. They  avoid  giving a direct answer and say they have no information regarding the wage changes.

“Alpha Business Group”  has no plans to increase salaries for its  employees. “I know it is a very sensitive issue for the public, but so far we do not deem it necessary to increase salaries,” – the company says.

“Georgian Railway” considers the growth of wages a major achievement in the last 2 years. The company says that the important measures have been carried out in this regard and further amendments are not expected.

In 2015,  “Cartu Universal” employee’s salary increased15%, but as the company explains, the change is not related to the GEL fluctuations.

Strangely enough but the GEL exchange rate continue to fall since November and employees have not asked for a pay rise. While the income is reducing, no one has hope that their salaries will increase. The main concern in the last time is to save jobs.