Herend in critical situation
Friday, November 11, 2005, 09:08
The Ft 7.2 billion turnover originally planned for 2005 is to be about Ft 1.5 billion less, and the loss will amount to some Ft 100 million, explained company CEO Attila Simon at a press conference yesterday. The main aim now is to stabilize the company in the market, which is expected to be rather difficult, because the entire luxury industry is in a critical situation worldwide. Herend is taking restrictive measures by laying off over 200 workers of its current staff of 1350 by the end of the year, and by halving the senior management's salary. (NG 4, Nb 13) E.C.