Are you sure?

GTK to lay off one-third of staff

Sixty employees, or about one-third of staff, will be laid off from Ganz Transelektro Közlekedési (GTK) Zrt's plant in Baja, south Hungary, Béla Somorjai, the plant's bailiff, said on Tuesday.

The laid-off workers will receive most of their wages from August to mid-September from the state's Wage Guarantee Fund. The Baja plant has orders worth Ft 1 billion, which should provide work for the rest of the employees for another six months, Somorjai said. After the orders are delivered, the plant's remaining assets will be sold.
Already, an auction of assets, including partially completed trolleybuses, is planned at GTK's plant in Budapest, and several companies have expressed interest in buying the buses. But even the sale of all the company's assets will cover only a small part of GTK's more than Ft 6 billion in debts, according to earlier information.
Hungary's Resonator Kft and Czech engineering company Skoda announced in September they had set up a 50%-50% joint venture to take over the activities and orders of GTK.