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BUSINESS IN SHORT

Two more firms in Vráble cut jobs

THE GLOBAL financial crisis is taking its toll on Vráble, a town in western Slovakia.

THE GLOBAL financial crisis is taking its toll on Vráble, a town in western Slovakia.

As well as IPTE, which is relocating production from Vráble to Romania (see story above), two other companies in the town have announced massive lay-offs, the SITA newswire wrote on October 28.

"These are all foreign firms that are tied to the global economy, which means that each shake-up or turbulence affects them," Vráble Mayor Tibor Tóth told SITA.

Data from the local labour office shows that 180 employees at Kongsberg Driveline Systems will lose their jobs between November 15 and February 28. The company manufactures control systems and car components in the Vráble industrial park, employing over 1,000 people.

Matador Automotive has announced it will let go of several dozen employees, but has not specified the exact number.

"Mainly those with contracts for a definite period and maybe a few more dozen people will be let go," Tóth said.

He added that the company also employs over 1,000 people and has an annual turnover of Sk3.5 billion (€116.18 million). It is currently involved in a large investment project amounting to several hundreds of millions of crowns.

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