Slovak News Back to the news
Doprastav to Launch Mass Redundancies on Monday
Sunday 01 August 2010 Zoom in | Print page
Bratislava, August 1 (TASR) - Around 750 employees of construction company Doprastav will be made redundant beginning as of Monday.
"The most important factor that contributed to the lay-offs is the doubts surrounding the D1 [motorway] PPP [private-public 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 general director Dusan Samudovsky, adding that this project has represented 20 percent of all construction work in Slovakia over the past three or four years.
According to Samudovsky, 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-December 2010.
When it comes to the other reasons for redundancies, Samudovsky 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 on our market, especially subsidiaries of huge international concerns," he added.
All rights reserved. Any publishing or further dissemination of press releases and photographs from TASR's resources without TASR's prior written approval constitutes a violation of the Copyrights Act.
