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Bulgarian Railways to Lay Off 700 Employees

Business » FINANCE | May 12, 2014, Monday // 15:02| Views: 1016 | Comments: 6
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Bulgaria: Bulgarian Railways to Lay Off 700 Employees Photo by BGNES

Some 700 employees of the Bulgarian State Railways (BDZ) will be laid off in order to cut the costs of the financially troubled enterprise.

Transport Minister Danail Papazov expects to see a concrete plan from BDZ by the end of May on how to cut the administrative costs, in order to reassure the company's creditors. Last week, Papazov revealed that the state railways' debts amount to BGN 171M.

Currently, there are over 1,200 people working for BDZ. According to Papazov, the number should not be more than 400-500.

As it stands, the Bulgarian government would only be able to grant a financial package to BDZ if the company's international creditors agree on its restructuring model.

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Tags: Danail Papazov, BDZ, Bulgarian State Railways
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» To the forumComments (6)
#6
ianvarna - 13 May 2014 // 17:41:36

Hold on to some to counter the severe graffiti problem. I don't expect my bus or airplane to be covered in graffiti, so why the train?. If the company think so little of the rolling stock what about the signalling and the track?

#5
jojoman - 13 May 2014 // 15:09:24

dont bad mouth BDZ the passenger trains are modern and are much cheaper then a bus, also teh fast trains are East German Czech dinosaurs perhaps North Korea has better

#4
Thenonymous - 13 May 2014 // 12:44:42

It will be the 700 Indians that actually do the work that will get laid off, the Chiefs will survive to continue with the massacre...

#3
Puffer - 13 May 2014 // 11:26:02

"Is this the first step towards its privatization - when it will be sold off cheap to some pal of those in charge of the EU?"

Privatization? Who in their right mind would want to buy that piece of shit called BDZ. Have you ridden their trains? If you don't get burned to death you'll be riding with people of an average age of 85. The interiors haven't been cleaned since 1957 and the BG idea of high speed rail is Sofia-Plovdiv in 8 hours. In BG even gypsies think it's uncool to take the train and would rather travel to Burgas in their horse drawn carriage.

#2
Fr Jack Hackett - 13 May 2014 // 11:18:49

Is this the first step towards its privatization - when it will be sold off cheap to some pal of those in charge of the EU?

#1
Philippe - 13 May 2014 // 01:18:01

1,200 people working for BDZ? That must be in their holiday resorts only..?