ECONOMY

Call for a halt to 120 job cuts

The Employment Ministry yesterday asked cooler maker Frigoglass to halt plans to cut 120 jobs at its Greek factory. «At this difficult period in the global economic crisis, employers, workers and the state must all work together,» Deputy Employment and Social Security Minister Sophia Kalantzakou said after a meeting with representatives of the company, workers and the ministry. The world’s largest maker of drinks refrigeration equipment said last week it would reduce its work force at its Kato Achaia plant, in the Peloponnese, by 120 employees, out of a total of 210, via a voluntary redundancy scheme. Frigoglass, whose shares are listed on the Athens bourse, also said last week it expects 2008 profits to have dropped more sharply than expected due to the global economic downturn. Companies around the world are cutting back on workers and closing plants as consumer spending crumbles.