Groclin plans mass layoffs due to shrinking revenue

The management board of automotive parts producer Groclin has launched consultation procedures due to group layoffs the company is planning to carry out between August and December 2018, making 321 employees redundant, which is 45 percent of the company’s payroll, the company stated. Groclin explained that the reason for the restructuring and planned layoffs is the continued decline in revenue and the pressure on prices, caused by growing competition cutting into suppliers’ margins.