Latvia - Metal plant lays off - April 30, 2016

The ailing steel company KVV Liepajas Metalurgs has already dismissed more than 100 workers, and plans to lay off another 150 workers by the end of April 2016. The management is aware of the fact that they there is the risk to lose qualified workers irreversibly – people with years of experience. This will make a revival of the production process in the future more difficult. The plant, based in the south-western Liepaja port city, has been struggling with financial problems since it was acquired by the KVV Group in October 2014. KVV agreed to invest over the next 10 years.

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