Slovakia nervous as job cuts hit auto sector

Slovakia nervous as job cuts hit auto sector

Published at: 2019-07-11 10:41 | Author: CIJEurope.com
With nearly half of Slovakia's industrial output focused on the production of automobiles, the worsening outlook for European sales is causing panic, according to Idnes.cz. It writes that when Volkswagen's Bratislava factory announced its first firings in a decade, it came as a severe shock. Roughly 3,000 employees were fired from the factory, which produces the Touareg and the Porsche Cayenne. The paper quotes Reuters as writing that 12 percent of Slovakia's GDP is related to the production of automobiles as are one in ten jobs. Now a mature market player, Slovakia is being hit by problems from new competitors from Southeast Europe, by the increasing importance of electric cars on the market and by global trade tensions. Volkswagen is planning to build a new factory, but it will most likely be in Turkey.

Similar Stories:

Panattoni Europe completes central warehouse for Leroy Merlin
Panattoni Europe has completed the central warehouse for Leroy Merlin in the Piątek commu  »
Reslogistic leases 7,000 sqm at Alliance Silesia Logistics Center in Czeladź
Reslogistic has leased 7,000 sqm of warehouse space at the Alliance Silesia Logistics Cent  »
FlexLink extends lease at Segro Logistics Park Poznań
FlexLink Systems Polska has extended its lease on 19,000 sqm of warehouse and office at Se  »
CTP to BREEAM certify entire portfolio
The industrial developer CTP Invest and BRE will collaborate to implement BREEAM In-Use In  »
CTP has expanded hugely in recent years, both in terms of the size of the portfolio and ge   »
There’s a lot of discussion about innovation in the office sector and in retail, but thi   »
Last year was a big year for you, as you established yourselves on the UK market. What wer   »
CIJ: E-commerce continues to be the dominant topic in logistics, especially city logistics   »