Dalekovod’s Management released a statement last week in which they announced that the company will be laying off 52 of their employees as part of the company’s restructuring plan.

The downsizing of employees represents a 12.5% decrease of total employment in the company. However, one should note that this was expected as the company already announced the downsizing of their administrative department. As a result, the company expects to record significant cost savings which will result in higher profitability. Still, note that the full effect of this decision will be visible in 2020, as one offs connected with severance packages will be visible in 2019. However, the exact amount was not disclosed in the announcement.

As a reminder, back in March, Dalekovod held an Investors Day @InterCapital where the company’s Management presented their outlook until 2020. To read more about it please click here.