Zetor Tractors plans to let around 40 percent of its staff go at the end of March. Some 260 jobs will be lost at the Brno company, which union representatives said was in financial difficulties.
Whereas Zetor sold almost 4,200 tractors in 2014, that figure had fallen to below 2,800 last year.
Since its foundation in 1946 Zetor has produced over 1.3 million tractors. In 2016 some 86 percent of its vehicles were exported.
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