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“Due to the low level of production in the recent period, we are now in an extremely difficult critical financial situation,” quoted Portfolio Evgeny Tankhilevich, CEO of Dunaferr Employees. In a letter received by the portal, the manager of the company informs them that this is the case
September wages due before October 10 will be paid in just two installments.
In the first phase, therefore, all employees will receive a salary of up to HUF 200,000 net before the 10th installment. The employer pays the social security benefits (sick pay, gyed) in full, regardless of this limit of 200,000 HUF. Employees can wait for the second installment of salary until October 22. Employees were also informed that the company would pay the annuities of the voluntary health fund, the voluntary pension fund and the main protection insurance at a later date, based on their financial capabilities.
According to the letter from the manager of the company, the company has been working at a critical level of production for months, which presumably also contributes to the demand-reducing effect of the epidemic on raw materials, but they are trying to maintain the continuity of production .
Dunaferr has been stumbling for years, for example, last October, for example, 350 layoffs were announced due to existing economic difficulties. This was finally withdrawn in February 2020, but they had already slipped with wages in April and have slowed production since then.
However, according to the portal, the liquidity crisis could be a real problem for hardware stores, as they were only able to issue salaries by rescheduling some payment obligations in April. And in August, the company management unilaterally terminated the collective agreement because, in its opinion, the union only aggravated the company’s situation.
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