Management of company "Knjaz Miloš" signed Collective contract with workers, agreed severance pay amounts to 600 EUR per year of work

In the biggest Serbian factory of water and juices "Knjaz Miloš" in Aranđelovac, the Collective contract has been signed. That contract will enable more favorable departure from the company to employees, whereas the company will get investments, export and better quality - said the manager for corporate and regulative affairs in that company Rade Pribićević.

According to his words, the most important part of the contract concerns setting of December 1 as the deadline prior to which the employees will be able to, with the severance pay of 600 EUR or 1.25 gross salaries per year of work, leave "Knjaz" voluntarily. After that date, the employer has authorizations to dismiss surplus manpower and the employees who are in that "package" will receive half of monthly salary for every year of work.

(Another precondition met for quality improvement)

Pribićević expressed his expectation that, after December 1, the number of employees would be cut from present 1,180 to 850.

At the same time, that will be significant reduction of financial obligations, since the average salary in the company amounts to more than 40,000 CSD and 25% of expenditures are salaries.