Spectator on facebook

Spectator on facebook

Slovnaft to cut 9 percent of jobs

The Slovnaft oil refinery, part of the MOL gas and oil group from Hungary, is planning to cut nine percent of jobs due to falling demand for oil products in Europe, the TASR newswire wrote on Monday, October 1. The economic crisis, dating back more than four years, has meant the demand for oil products has fallen by 10 percent in Europe, with the outlook remaining negative.

The Slovnaft oil refinery, part of the MOL gas and oil group from Hungary, is planning to cut nine percent of jobs due to falling demand for oil products in Europe, the TASR newswire wrote on Monday, October 1. The economic crisis, dating back more than four years, has meant the demand for oil products has fallen by 10 percent in Europe, with the outlook remaining negative.

"I'm not able to state the exact figures of how many people will be affected by the rationalisation measures. I'm able to say that this may concern some 7 percent of the staff at Slovnaft," said Slovnaft PR director Anton Molnár. Slovnaft will cut 9 percent of jobs, while the actual reduction will affect only 7 percent of the staff, as many of the positions are already vacant.

Meanwhile, Slovnaft is set to increase the volume of investments. Over the past 10-15 years, it has been investing €110-120 million each year. According to Molnar, this figure should rise mainly due to the planned construction of a new line for the production of polyethylene and the modernisation of the unit for ethylene production.

(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.

Top stories

Lack of experts challenges ICT sector

To maintain the competitiveness, the Slovak government must support digitising the economy and take a positive stance towards the ICT sector, according to experts.

Illustrative stock photo

Kia negotiations stuck

Trade unions have asked for a higher increase in salaries and are ready to strike.

Most cars produced in Slovakia head for export.

Roma civil patrols will continue

The Interior Ministry allocated €10 million for the project.

Roma patrols in Veľká Lomnica.

Our exit from the EU will not weaken our links

The UK has no intention of undermining the stability of the EU, nor do we want to become more distant to our European neighbours, including those here in Slovakia, the ambassador writes.

Flags displayed on a tourist stall, backdropped by the Houses of Parliament and Elizabeth Tower containing the bell know as Big Ben, in London.