BUSINESS IN SHORT

Cargo Slovakia to reduce one shift

RAILWAY freight company Cargo Slovakia (ZSSK Cargo) and its employee representatives agreed to a working week which will be reduced by one shift beginning February 1 due to work obstacles on the employer’s part, the SITA newswire reported.

RAILWAY freight company Cargo Slovakia (ZSSK Cargo) and its employee representatives agreed to a working week which will be reduced by one shift beginning February 1 due to work obstacles on the employer’s part, the SITA newswire reported.

The working week of staff members who work on a variable working cycle will change beginning March 1, with employees receiving compensation of 70 percent of their standard salaries, the company’s spokeswoman, Margaréta Grecová, told SITA.

The firm expects its cargo transport this year to increase by about 10 percent from 2009, a year in which the company recorded a drop of about 30 percent in its cargo transport.

Due to the economic crisis and its subsequent record slump in performance, Cargo Slovakia estimates that it closed 2009 with losses of €120 million, about 10 percent less than the €133 million loss projected earlier.

Last year, more than 600 employees left the company on the basis of employment termination agreements and received severance compensation.


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