Type
Other
Country
Bulgaria
Region
Yuzhna Bulgaria; Yuzhen tsentralen; Stara Zagora
Location of affected unit(s)
Stara Zagora
Sector
Manufacturing
Manufacture Of Basic Metal And Fabricated Metal Products
Manufacture Of Basic Metals
24.51 - Casting of iron

241 jobs
Number of planned job losses
Job loss
Announcement Date
27 November 2008
Employment effect (start)
3 January 2009
Foreseen end date
30 April 2009

Description

Progress AD, an iron casting enterprise based in Stara Zagora, is laying off 241 of its total staff of 400 employees. The company filed a notice to the labour office informing it about the redundancies planned for the period January-April 2009. The company is a manufacturer of gray and nodular iron castings, exporting some 70% to other European countries. Slavin Yanakiev, CEO of the company, had hoped to have to cut only 120 workers.


Sources

Citation

Eurofound (2008), Progress, Other in Bulgaria, factsheet number 68141, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/68141.