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CEO of Bulgaria's Arsenal arms factory denies information about staff cuts

| updated on 4/29/20 4:24 PM
Photo: BGNES

Redundancies at Arsenal arms factory in the town of Kazanlak have begun, the BNR correspondent in Stara Zagora reports. At the end of March the company informed the employment office in Kazanlak that it was going to make 2,000 workers redundant. 

Representatives of Bulgarian syndicates forecast that the number of redundancies will be smaller. The main reason for the planned redundancies is the declining number of orders due to the unpredictable situation on the international markets in the recent months, the management of Arsenal arms factory informed. 

In an interview with the Bulgarian National Radio later today, Arsenal CEO Nikolay Ibushev has denied the reports about staff cuts, saying there will be no layoffs until the end of May. He explained that cuts were planned a month ago, but the situation had changed. 

"There is work for all of our more than 8,000 employees in the enterprise," Ibushev said.




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