Bulgarian metals group Intertrust Holding plans to lay off some 700 employees or around 20% of its staff for 3 months on dwindling global metals prices and tighter credit markets.

Intertrust controls Bulgaria's second largest zinc and lead producer Lead & Zinc Complex.

Mr Roberto Mladenov CEO of Intertrust Holding said that "Some of the employees could get back their jobs in case the global financial situation improves."