Doprastav announces mass redundancies

Around 750 employees of construction company Doprastav were made redundant on Monday, August 2. "The most important factor that contributed to the layoffs is the doubts surrounding the D1 [motorway] PPP [public-private partnership] project on which Doprastav, and other companies, has been working for almost three years and on which it has spent a considerable amount of its own resources," said Doprastav chief executive Dušan Samudovský, as reported by the TASR newswire. He added that the project has represented 20 percent of all construction work in Slovakia over the past three or four years.

Around 750 employees of construction company Doprastav were made redundant on Monday, August 2. "The most important factor that contributed to the layoffs is the doubts surrounding the D1 [motorway] PPP [public-private partnership] project on which Doprastav, and other companies, has been working for almost three years and on which it has spent a considerable amount of its own resources," said Doprastav chief executive Dušan Samudovský, as reported by the TASR newswire. He added that the project has represented 20 percent of all construction work in Slovakia over the past three or four years.

According to Samudovský, the number of employees made redundant may fall or rise depending on the situation. Most of the redundancies are expected to take place between August and December 2010. Giving other reasons for the redundancies, Samudovský pointed to a dramatic drop in private investment in development projects of all kinds, caused by the economic crisis. "The third factor is the constant growth in foreign competition in our market, especially subsidiaries of huge international concerns," he added.

Source: TASR

Compiled by Zuzana Vilikovská from press reports
The Slovak Spectator cannot vouch for the accuracy of the information presented in its Flash News postings.

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