Maxcom SPLTD - Tzaratzovo - Short Company profile

The slowing economy in Europe and rising labor costs are forcing employers to cut staff. The number of companies planning mass layoffs, as well as the number of workers slated for layoff, is increasing this year, according to a report by the Employment Agency (EA). The increase in the minimum wage is hitting from low-paid sectors such as the textile industry to the IT industry, where several international companies have decided to cease or significantly limit their operations in Bulgaria. For the last 6 months - from April to September, AZ received a total of 39 notices of mass dismissal of a total of 3306 workers and employees. For comparison, for the same period of 2023, the submitted notifications were a total of 22 for 2016 persons. According to the Labor Code, dismissals affecting at least 10 people in enterprises with 20 to 100 workers, at least 10% of the staff in enterprises with 100 to 300 workers and at least 30 people in enterprises with 300 and more workers. The tendency of the previous year to register 30% (985 persons) of the workers and employees affected by mass dismissal is maintained. Companies from the sewing sector are laying off the most massively, with many of them practically ceasing to work. All of its 57 workers are being laid off by "Schneider" in Simitli, which, with few exceptions, has been operating at a loss every year since its establishment in 2008. From about 500 workers before, as of July this year, only 150 people remained in the Turkish "Dinatex", which sews jeans in the Burgas village of Zaichar. "Rada" in the village of Lozenets, which is Italian-owned, and "Kreacioni Donna" in Veliko Tarnovo, which produces women's clothing, also remain without workers. "TPK collective" in Lovech is also laying off all its 22 workers. The staff at "Dimana" in Batak and "Ales" in Dimitrovgrad is decreasing. The sewing industry is one of the sectors that relies on cheap labor, and with the increase of the minimum wage by 20% since the beginning of this year, the budgets of the employers are clearly not tied. Two shoe manufacturers in Kyustendil remain without people - "Arko Baleno ESP" and "Espansione". The shutdown of the second largest coal-fired thermal power plant in the country - "ConturGlobal Maritsa-East 3" has announced the dismissal of a total of 320 people in two waves. As of July, half of them have already been released, 200 remain employed. The reduced demand for fireplaces and stoves for heating and their replacement with electric appliances is behind the shrinking of the activity and personnel of manufacturers such as "Priti 95" in Lyaskovets and "Viktoria - 05" in Gorna Oryahovitsa. About 60% of the employed 50 people are also planning to lay off the manufacturer of heating equipment "Ekoterm project" in Haskovo. Leoni, which is about to end the production of automotive cables in Pleven by the end of the year, is laying off the most people. A few months ago, the company announced that it would lay off 1,200 people, most of whom have already been let go. "Yazaki" in Yambol, which also produces automotive cables, has announced that it will lay off nearly 140 people, and its other two factories are in Dimitrovgrad and Sliven. The total number of employees at the company fell from 3,600 at the beginning of the year to just under 3,000 in July. The bicycle crisis is the reason for the dismissal of all 22 employees of "Pierer&Maxcom Mobility" - the joint venture of the Austrian Pierer and the Plovdiv-based "Maxcom", which was supposed to produce electric bicycles, but never started work. A large number of software companies have also announced redundancies, and in some of them the process is the result of the decision of the foreign owners to optimize the staff in Bulgaria or to completely cease their activities. Earlier this year, it became clear that Uber was closing its software unit in the country, which explains the cuts announced by "Uber Bulgaria Software and Development". The staff in "VMware Bulgaria" was also significantly reduced - from 1,700 people at the beginning of the year to 1,140 people in July. The entire staff of 46 people at "Turbulence Technologies" has been laid off. The company was established only in 2023, and in September of this year it went into liquidation and is owned by the brothers Kiril and Georgi Domuschievi.