23 January 2009 14:12 [Source: ICIS news]
PRAGUE (ICIS news)--Poland's Zaklady Azoty Tarnow (ZAT) is calling for voluntary redundancies as it aims to cut 250 employees from its workforce of 2,300 to counter falling demand, the chemical and fertilizer company said on Friday.
“In the case that the company is unable to find enough people willing to discuss the terms of their contract, ZAT will be forced to commence procedures for its own large-scale dismissals,” read a statement from ZAT.
Workers interested in a voluntary redundancy must apply by February 14.
The company said workers' representatives had agreed to the redundancy plan.
ZAT has scaled down its fertilizer, construction plastic and caprolactam production by more than one fifth since the global economic crisis took hold late last year.
Shortly prior to the production rate cuts it indefinitely suspended production at its 43,000 tonne/year mercury-process chlorine unit citing falling orders.
The company also suffered significant foreign currency hedging losses as the Polish zloty plunged against the dollar and euro during the onset of the financial turbulence.
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