Tajikistan: TALCO Loses 600 Workers
Tajikistan industry’s visiting card: That was how President Emomali Rahmon once described aluminum producer TALCO.
But things are looking a bit grim for the company at the moment with the news that it has had to lay off 607 employees, equivalent to 7 percent of the entire workforce, because of low global prices for its product.
Reuters news agency on April 19 cited TALCO press secretary Igor Sattarov as saying that 8,200 workers would be left at the company after the cutback.
Although the loss of employment will come as a massive blow to the laborers affected, the cutback is still quite a bit short of the 2,000 job cuts called for international consultants. Sattarov said TALCO instead opted for a “mitigated plans for the staffing optimization” and has put a number of people on unpaid leave.
International aluminum prices are currently hovering around $1,600 per ton, which marks something of a recovery from the lows seen last year, but still falls short of a figure that would make TALCO seriously profitable.
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