Tomas: Ecco Slovakia to Settle All Liabilities towards Employees

Martin, April 17 (TASR) - Ecco Slovakia will settle all liabilities towards the employees of its plant in Martin (Zilina region), Labour Minister Erik Tomas (Voice-SD) told a news conference held in front of the factory on Thursday.
        If the company fails to do so, the state will intervene and reimburse any lost salary payments or other liabilities from the guarantee fund of social-insurance provider Socialna poistovna.
        Ecco Slovakia will cease production at its facility in Martin this summer, with the shutdown set to affect 650 employees. The international footwear manufacturer explained its decision by pointing to global business and economic developments due to which it has decided to adjust the distribution of its production capacities to better align with market needs.
        The company's management declared that it is preparing compensation packages for employees along with other measures in line with a collective agreement, which will aim to help people overcome the situation.
        Opened in 1998, the factory, which specialises in both formal and casual footwear, has supplied more than 50 million pairs of shoes to global markets over its lifetime. The current situation at the Martin plant will not affect Ecco's retail network in Slovakia.