Fortischem announces mass layoff, hundreds of jobs at risk
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Loading... - Elise Bunschoten
- 27 Sep 2022
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The chemical company Fortischem, a major employer in central Slovakia, may be about to lay off hundreds of its employees.
Fortischem, located in the mining town of Nováky, TrenÄín Region, says that it is in a difficult economic situation due to the increasing prices of utilities and the sanctions against Russia. The company, which had been in financial difficulties already last year, is complaining about missing government compensation system for businesses.
362 job positions are at risk due to the critical situation.
“The different approach to the regulation of energy prices in Europe does not allow our company to translate energy costs into the prices of our products, making our company uncompetitive," noted chairman of the company’s board, Jan KÅ™iÄka, as quoted by the TASR newswire.
Major role in pandemic
Fortischem is based in the central-Slovak town of Nováky in the TrenÄín Region, mainly known for coal mining. It produces raw chemical materials, and played a crucial role during the Covid-19 disease as Slovakia's only producer of chlorine used for water purification and as a disinfectant, TASR wrote.
The chemical company is one of the largest employers in the region. However, it has been experiencing problems for a long time. Since 2021, Fortischem has been controlled by the Prague-based CM-CREDIT company of the KAPRAIN financial group.
Last year, Fortischem ended up in the red with a loss of more than 9.9 million euros, and is currently under temporary protection due to the threat of bankruptcy, TASR reported. Read More...
