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MOL Slovakia unit plans layoffs

Slovnaft, the Slovakian unit of Hungarian oil and gas company MOL, plans to lay off almost 7% of its staff, spokesman Anton Molnár confirmed for MTI on Tuesday.

The layoffs will affect almost 300 of Slovnaft's 3,600 staff in the coming months, Molnár said. Administrative jobs will account for two-thirds of the total, he added. The layoffs are part of a restructuring necessary because of rising fuel prices and falling demand, he said. The layoffs will not affect investment plans, including the construction of a €204 million polyethylene plant. MOL announced on Friday that it would lay off 700 of its some 10,000 workers in Hungary.