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STV lacks cash for layoff settlements

Slovak state television company STV is struggling to find the Sk250 million (€6 million) needed for settlements to staff due to be laid off at the end of this month, according to the Finance Ministry.

The layoffs are part of cost-cutting plans aimed at reducing STV's monthly operational losses, which stand at Sk20 million (€475,000).

Compiled by Conrad Toft from press reports.
The Slovak Spectator cannot vouch for the accuracy of the information presented in its Flash News postings.

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