German Minister: A New Financial Crisis Poses a Threat to the World Economy
The world economy is facing the risk of a new financial crisis, warned German Finance Minister Wolfgang Schauble, quoted by the electronic edition Politico.
HOT: » Assessing the Legacy of Bulgaria's "Denkov" Cabinet: Achievements, Failures, and What Comes Next
The Bulgarian milk processing company "Serdika-90" shut down over the global financial crisis.
93 of a total of 120 employees of the company, which is situated in the Northeast city of Dobrich, were fired.
The employees found out about the layoff Wednesday from a list of names put at the front door of the company's factory, BGNES reported..
The Dobrich Labor Office Directorate and the city's municipal administration have still not been officially informed about the dismissal. The Confederation of Independent Bulgarian Syndicates (KNSB) and the Labor Confederation "Podkrepa" ("Support") received information about the layoff at 5 pm on February 27.
The Spanish fund "Jet", which is the owner of "Serdika-90", has justified the closure with the negative effect of the financial crisis, the decrease of the market's volume, and the competition of the "gray economy".
The milk buying department, the pasteurization department, and the cheese, and kashkaval (yellow cheese) departments were closed. The work of the financial department, the quality control department, and the technical supplies department has been reduced.
The fired employees do not have a collective labor agreement, and can expect up to two monthly salaries as a compensation. The average wage in the company is BGN 500.
KNSB and "Serdika-90" CEO Dorel Radu are going to meet Thursday to discuss the formation of a team, including representatives of the Dobrich municipality administration, and the Labor Office Directorate, to try to find jobs of the fired employees, even by changing their field of work.
It is still unclear whether some of the former employees will be sent to the other "Jet"-owned company in Dobrich, "Fama", which produces milk and yogurt.
We need your support so Novinite.com can keep delivering news and information about Bulgaria! Thank you!
In order to protect the economic interests of consumers, there will be a period of double labeling of the prices of goods and services - in leva and in euros
As Bulgaria inches closer to joining the Eurozone, concerns arise over the implementation of rounded prices in euros, potentially impacting citizens' wallets upon adoption of the single currency
On a briefing held at the National Press Club of BTA, Nikola Ilchev, the creator and organizer of the Balkan eCommerce Summit, showed projections indicating a significant rise in Bulgaria's e-commerce sector
The Ministry of Finance in Bulgaria has revealed that the process to facilitate the exchange of levs with euros in the country will come with a hefty price tag, estimated to be at least BGN 500 million
As Bulgaria steers towards adopting the euro, economists dispel concerns over potential price increases, assuring the public that the impact on inflation will be minimal
The Ministry of Finance has released a draft law for public discussion concerning the adoption of the euro in Bulgaria. The primary aim of the proposal is to ensure a smooth and transparent transition to the European currency
UN Happiness Report: Bulgaria's Astonishing Leap in Rankings
Bulgaria: 3 Regions With Lowest Life Expectancy - EU Report 2022