August 13, 2018 / 6:46 AM / 4 days ago

BRIEF-Groclin Plans To Reduce Workforce

Aug 13 (Reuters) - GROCLIN SA:

* REPORTED ON FRIDAY IT PLANS TO REDUCE GROCLIN WORKFORCE BY 321 EMPLOYEES WHICH CONSTITUTES 45 PCT OF ALL EMPLOYED

* LAY-OFFS TO BE IMPLEMENTED BETWEEN AUGUST - DECEMBER 2018

* SAYS REASON FOR PLANNED RESTRUCTURING IS PROGRESSIVE DECLINE IN REVENUES ON CONTRACTS EXECUTED IN POLISH FACTORIES, PRICE PRESSURE AND GROWING COMPETITION

Source text for Eikon:

Further company coverage: (Gdynia Newsroom)

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