Rafako to fire up to 276 of staff by end-July'18

WSE-listed engineering firm Rafako will lay off up to 276 employees by the end of July 2018, the company said in a market filing. The number is lower than 325 previously expected. Rafako reached an agreement regarding the layoffs with trade unions. “The level of group layoffs has been decreased after a detailed analysis and negotiations with the trade unions. It will still reach the level of business objectives set by the Management Board related to the reorganization of the company,” the statement said. According to the company, this move will result in PLN 25 million in annual savings and will be accompanied by optimization measures. The full details of the plan will be announced by the end of the year.