The 3-5% pay cut will affect those on collective bargaining agreements, while the management and other senior staff will have their pay checks trimmed by 16%.
The landmark agreement comes after the ailing company reported a loss of EUR 8m in the first quarter, more than double the expected figure. Chief unionist Silvo Berdajs told the public broadcaster TV Slovenija that the pay cut which averages 4.2% will be in effect between 1 May and the end of 2013. The management also gave up holiday allowance, while other employees will receive the bonus capped at minimum wage.
SOURCE: The Slovenia Times
