BUSINESS SHORTS

Punch Technix announces mass layoffs in Slovakia

THE BELGIAN company Punch Technix Equipment Manufacturing has announced two mass layoffs in Slovakia. As a result of this, 377 people will lose their jobs in the upper Orava region in northern Slovakia, the head of the Námestovo Labour Office’s service department, Ján Laštík, told the SITA newswire on November 28.

THE BELGIAN company Punch Technix Equipment Manufacturing has announced two mass layoffs in Slovakia. As a result of this, 377 people will lose their jobs in the upper Orava region in northern Slovakia, the head of the Námestovo Labour Office’s service department, Ján Laštík, told the SITA newswire on November 28.

Punch HR manager Michal Foltán said the company was forced to cut staff because one of its clients cancelled orders.

The first round of layoffs will hit 301 employees. It is connected with fully winding down the company’s electrical-engineering production. The layoff will affect production workers, auxiliary personnel and employees in production management.

Another 76 people will leave the company in connection with organisational changes, aimed at increasing the company’s efficiency in Slovakia.

The mass layoffs, announced on October 10, are expected to start in late February 2008, said Laštík.

Punch came to Orava in 1998. At its peak, it employed about 1,700 people. The company is involved in production activities in the engineering, agricultural, graphics and electrical-engineering sectors.

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