Icelandic news translated into English

October 31, 2008

60 laid off from Ístak

Filed under: jobs — newsfrettir @ 4:25 pm

Sixty employees were aid off this morning from Ístak constructions. Loftur Árnason, president of Ístak, says the lay offs are a part of the 300 jobs they have announced that they have planned on reducing before christmas. He wants the government and provinces to increase their projects in construction, rather than decrease.

“This is a part of it,” says Loftur. “We laid off 180 persons a month ago who are quitting now. But these 60 will quit in the next couple of months, some have 1 month notice, others 3.”

Loftur says the situation is very bad for the whole industry. “Recession in official practice does not affect the govt, but affects the companies and individuals servicing them. I think the govt is not in recession.”

“I think it would be appropriate to try to have some productivity running, or everything will just die. Thats my opinion. But of course there are too many houses and apartments and offices available for the market as is, so it serves no purpose to produce more for that market. But it is with that fact in sight important that the govt and provinces do not pull away.”

(News article by *noname*)
Article

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