Will There Be Layoffs at the Zangezur Copper-Molybdenum Combine? 1400 People May Become Unemployed

A new wave of unemployment is brewing in Syunik. The new owners of the Zangezur Copper-Molybdenum Combine have announced their intention to lay off 1,400 people.

While the legality of the transaction transferring 60% of the Zangezur Copper-Molybdenum Combine's shares to Geopromining Armenia is being disputed in court, the company has already begun reorganizing the combine.

According to information from 'Factinfo,' representatives of Geopromining Armenia, led by CEO Roman Khudoli, visited the combine yesterday. While Khudoli has returned, the managers who accompanied him have stayed. They announced that 1,400 employees of the Zangezur Copper-Molybdenum Combine would be let go.

It is worth noting that this combine plays a significant role in providing jobs in Syunik, and the layoffs will not only be a severe blow but may also contribute to mass emigration.

'Factinfo' is also trying to obtain a comment regarding the layoffs from Geopromining Armenia.