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U.S. Steel Košice asks for voluntary terminations after a record-high loss

The biggest private employer in Slovakia, the steel works owned by U.S. Steel Košice, wants to reduce the number of its administrative employees by fifteen percent by the end of June of this year, the economic daily Hospodárske Noviny wrote on Wednesday, April 29. This will affect 450 managers and administrative who have been asked to “voluntarily” leave their jobs.

The biggest private employer in Slovakia, the steel works owned by U.S. Steel Košice, wants to reduce the number of its administrative employees by fifteen percent by the end of June of this year, the economic daily Hospodárske Noviny wrote on Wednesday, April 29. This will affect 450 managers and administrative who have been asked to “voluntarily” leave their jobs.

Due to tax abatement granted by the state when U.S. Steel bought the facility, it may not lay off people until 2010. Therefore it wants to encourage people to change qualification or resign as a result of its one-time offer of a financial package to employees. In the first quarter 2009, the company posted a loss of about €336.2 million. HN

Compiled by Zuzana Vilikovská from press reports
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