Mass reduction at MAZ: 4.5 thousand workers laid off
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12:46, — Politics
“MAZ is on verge of bankruptcy,” Belarus high authorities acknowledge.
Since December 2009 4.5 thousand workers have been laid off at the Minsk Automobile Factory (MAZ), according to first vice prime minister Vladimir Semashko. The figure was announced 16 February during a session of the “chamber of representatives” committee on state building, local governance and regulations.
As the vice prime minister emphasized, two years ago MAZ “was nearly on verge of bankruptcy”. The factory’s profitability equaled -6.7%, “In this situation, almost the entire turnover capital was spent. We had to give a state loan of 375 bln rubles,” BelaPAN quotes Semashko.
According to him, in December 2010 MAZ’ profitability equaled 9.2%, while the salary increased from 1.068 mln to 2.032 mln rubles.
Semashko said that it was the factory’s director (Aleksandr Borovsky since December 2009) that stays behind the improvement of the factory’s performance. According to the first vice prime minister, “he just laid off 4.5 thousand people, with no fuss.” “Thank god, Minsk is a big city, everyone can find a place for themselves,” Semashko added.
He remarked that there are other Belarusian companies with excessive personnel.
We remind that on Tuesday the Russian state corporation “Rostekhnologii” suggested the Belarusian government merging KamAZ and MAZ, as “Rostekhnologii” president Sergei Chemezov announced.
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