Railway network operator Železnice Slovenskej republiky (ZSR) will be laying-off white-collar employees from the firm's general directorate.
During the upcoming two years, the ZSR, which is one of Slovakia's biggest employers, will fire 4,800 of its 22,000 employees in order to reduce its debts, which have reached almost Sk50 billion (€1.19 billion).
"The company may save as much as Sk1 billion (€24 million) after the removal of non-core activities, and a further Sk900 (€21.4 million) in wage costs," new ZSR Director General Roman Veselka told the daily Pravda.
Compiled by Beata Balogová from press reports
The Slovak Spectator cannot vouch for the accuracy of the information presented in its Flash News postings.
5. Sep 2003 at 14:27