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BUSINESS BRIEFS

Biotika plans mass layoffs

DRUG manufacturer Biotika Slovenská Ľupča is preparing for significant layoffs, with the firm's labour union boss confirming that about 200 people may lose their jobs.

Biotika's general director Jozef Krištofčák said that the unpopular measures were still at the preparation stage, but he later confirmed that workers would be gradually laid off until the end of this year.

The firm's management says that increased energy prices and the weakening US currency against the Slovak crown has made the preservation of the current labour force difficult to sustain.

Biotika has 1,000 employees, and exports about 86 percent of its production.

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