Aluminium manufacturer Slovalco is laying off hundreds of employees in response to increasing energy prices, emissions restrictions and decreasing prices for aluminium. The company is considering a complete shutdown of its plant, which is the only aluminium manufacturing facility in Slovakia.
About 300 of the company's employees, out of 450, will lose their jobs – and even then Slovalco, which is based in the central-Slovak town of Žiar nad Hronom, says the final number of laid off employees remains uncertain, the TASR newswire reported. A further 2,500 jobs in the region that are tied to aluminium manufacturing are now at risk.
"This fate of our only Slovak aluminium maker cannot be labelled other than a disaster," said Economy Minister Richard Sulík (SaS), as quoted by TASR.
Existing funds could have helped