350 WORKERS TO LOSE THEIR JOBS: Turkish factory in Smederevo that Vučić once touted is shutting down!

The Turkish textile factory “Kaizen” in Smederevo has officially initiated liquidation proceedings. According to the documentation, the decision was made because continuing operations was deemed economically unjustifiable, RTS reports.

As a result of the decision to initiate liquidation proceedings at the “Kaizen” factory, which was made yesterday, around 350 workers will lose their jobs.

“The workers have been placed on paid leave for four days. In the meantime, they say they were notified to come to the company on Thursday, that is, today, to sign their termination notices,” RTS reports.

One of the workers confirmed that, at a meeting held today, they were told that the procedures and obligations toward employees would be handled in accordance with the law and regulations.

Documents available on the website of the Serbian Business Registers Agency state that the company has sufficient funds to settle all its liabilities.

The textile company “Kaizen” opened in April 2016 as a subsidiary of the Turkish company “Kardem,” and Aleksandar Vučić attended its official opening. It was presented as a major investment that was expected to employ up to 800 people, but that figure was never reached.