Zetor cuts production and lays off staff due to financial crisis

The Czech tractor-maker Zetor is to cut production to four days a week in February and March, a spokesperson said on Wednesday. As well as producing fewer tractors, the Brno-based company is planning to lay off around 130 of its 1,100 employees as demand falls due to the financial crisis. Other large firms in the Czech Republic, including Škoda Auto and Hyundai, have also reduced production recently.