Elcoteq Streamlining E. Europe Ops
Published: 09 May 2008
by Mike Buetow
TALLIN, ESTONIA – Elcoteq will layoff or reduce the pay of up to 330 workers in its facilities here, the company said.
Workers would be laid off, or asked to take lower wages and mandatory work holidays, according to reports.
No information was provided to the length of the furloughs or the expected cost savings.
Last month, Elcoteq reported first-quarter pretax loss of 15.4 million euros on a 4.8% drop in sales year-over-year.
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