Bulgaria / Layoffs at Military Plant: 700-800 employees will have to go

Hundreds of workers at Bulgaria’s State-owned arms manufacturer VMZ Sopot must be laid-off in order for the company to be privatized, Bulgarian Prime Minister, Boyko Borisov, says.

According to Borisov, cited by Darik radio, 700-800 employees will have to go because no potential buyer will want to acquire the plant with the current 3 200 ones. He further sees the collective bargaining agreement as a hurdle before the sale of VMZ Sopot.

The PM noted that he had ordered Economy and Energy Minister, Delyan Dobrev, and Social Minister, Totyu Mladenov to find jobs for the said 700-800 people under a social program of Mladenov’s institution. He added private military plants employ up to 700 people at the most.

Choosen excerpts by Job Market Monitor from

via Bulgarian PM Backs Layoffs at Faltering Military Plant: Bulgarian PM Backs Layoffs at Faltering Military Plant – Novinite.com – Sofia News Agency.