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BUSINESS BRIEFS

Slovak Post to be transformed

CABINET ministers on January 28 approved a plan for the transformation of the state firm Slovak Post (SP) into a joint stock company in which the state will remain the majority shareholder.

The law on the transformation of the SP, if approved by parliament, would take effect as of May 1.

Recently, the SP announced that it would fire about 150 of its current 17,000 employees in the coming months as part of its new organisational scheme.

According to the state-run news agency TASR, it remains unclear what will happen with the SP after the transformation. It could be sold, run by the state, or possibly even rented to a private firm.

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