Kopex's Tagor to lay-off 43% of the whole staff

Tagor, a unit of the mining machinery producer Kopex, plans to lay-off 120 workers (out of 282) due to its difficult situation, the company announced in a statement. According to officials' estimates, Kopex will save some PLN 4 million annually on this cutback. The group redundancy of employees will run in June 2016. Last month, Kopex Machinery has launched a restructuring program, which assumes dismissing 305 people. Kopex is Poland's biggest mining machinery producer. The company recently said that it recorded lower revenues and worse financial results, stemming from unfavorable the situation on domestic and global coal markets.