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IT companies in Romania might face serious defaults because of the financial crisis, as many clients will cut budgets on IT, and Romanian IT industry is likely to drop 20-30%, Radu Georgescu, chairman of Gecad group stated for Wall-Street.
Romanian companies will face major problems if they will not acknowledge the real magnitude of the crisis, as most of their clients are companies that have already collapsed or that have dramatically cut development budgets, and outsourcing companies will be the first “casualties”.
“The first IT companies that failed are those in outsourcing field, because most of their clients are foreign companies that collapsed or cut their business. Outsourcing companies are small, and don’t have the ability to overcome a two-year crisis,” Radu Georgescu added.
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