Icelandic news translated into English

November 2, 2008

Nine laid off at Enex

Filed under: Resignations — newsfrettir @ 6:02 pm
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Enex in trouble. Picture - RAx
Energy producer Enex has laid off close to half of their employees. There were 20 employees but nine got a notice to quit at the end of October. This was stated in the evening news on the radio.

There was quoted to Þór Gíslason president of the company that it is hard to run the company after the fall of the króna, where they can only get half the investments the company makes for the króna now. Besides that it is very hard to get a loan on the market.

Þór reckons that Enes will be able to keep their ongoing projects running. Enex specializes in hydroelectric power and operates in various locations around the globe.

(News Article by *Rax*)
Original Article in Icelandic

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