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Bulgaria's battery producer Monbat sacks 120 over financial crisis effects

Date: 23.11.2008

Bulgaria's battery producer Monbat is optimizing its staff over the negative effects of the global financial crisis. Photo by monbat.com
The governing board of Bulgaria's lead-acid batteries producer Monbat decided Thursday to make redundant 120 workers of the company as part of a restructuring program.

Monbat's optimization and restructuring measures are motivated by the need to reduce the company's expenditures in the face of the increasingly negative effects of the global financial crisis on its business activity. The 120 workers to be sacked are going to receive compensations.

Monbat's main production facilities are located in Bulgaria's northwestern city of Montana, which has one of the highest levels of unemployment in the country - 10,35% according to data released Thursday, compared to 5,85% for Bulgaria as a whole.

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