Belarus’ Giant Enterprises Get Ready To Mass Dismissals

Belarusian authorities are set to carry out dismissals at flagship enterprises.

MAZ, MTZ, the Belarusian Iron Works and a number of other machine-building plants and factories are to transit from “the policy of preservation of jobs to the policy of getting the most of each job place.” Such prospects have been announced by the Economy Minister Uladzimir Zinouski as the World Week of Entrepreneurship was held in Minsk, Radio Racyja informs.

– Refinement of the system of management of the economy is planned, implementation of the new approaches to economy modernization, getting state aid by means of competition exclusively, forming a full-fledged financial market, – the minister said. Since the beginning of the year the number of workers at the ten largest enterprises decreased. The most considerable mass layoffs took place at MAPID joint stock company (by 10.1%), Belshina (by 9.5%), Naftan (by 7.6%), Minsk Motor Plant joint stock company (by 7.3%), Grodnopromstroj joint stock company (by 7.2%) and MTZ (7.1%).

According to the data of the National Statistics Committee of Belarus, more than 20% of enterprises in Belarus are loss-making. Subsidies and preferential loans are received by the majority of enterprises in the public sector of the economy.