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Wednesday, 04.05.2016, 01:01
KVV Liepajas Metalurgs metallurgical company will start laying off workers today, as Dace Baumane, head of the Liepaja branch of the State Employment Agency, told LETA.
Keyword tags: Employment, Latvia, Legislation, Markets and Companies, Metals Market
The ailing Latvian steel company KVV Liepajas Metalurgs have already laid off more than 100 workers, and plans to lay off another 150 workers by the end of this month, KVV Group’s spokeswoman Natalja Napadovska told LETA.
Ukraine's KVV Group has come to the conclusion that the Latvian government has started destroying KVV Liepajas Metalurgs metallurgical company as its claim to the financially troubled company has been increased on April 11th from EUR 61.869 million to EUR 66.273 million, the company said in a statement, cites LETA.
106 former workers at KVV Liepajas Metalurgs metallurgical plant have registered as unemployed with the State Employment Agency from the beginning of March until April 8, as Dace Baumane, the head of the agency's branch in Liepaja, told LETA.
Ruling coalition politicians believe that the joint-stock metallurgical company KVV Liepajas metalurgs should operate according to a scenario that would make it possible for the state to get back its investments in the company, reports LETA.
The government of Latvia on March 22nd decided to task the Privatization Agency (PA) with negotiating the restructuring of KVV Liepajas Metalurgs metallurgical company and did not rule out a rescheduling of the company's debts, informs LETA.
Based on the shareholder decision about closing down and conservation of KVV Liepajas Metalurgs metallurgical plant, a personnel audit will be carried out at the company in the next few days to determine the minimum personnel required for infrastructure maintenance during the idle time, and over EUR 800,000 will be paid to the laid-off workers, the plant’s owners, Ukraine’s KVV Group, said, cites LETA.