Reuters reported that Czech truck maker Tatra will let go of 530 staff this month and shorten its working week from November due to falling orders.

A Tatra spokesman said that the company had let go of 1,000 employees up to June 2009 because of the economic crisis and posted a loss making 2008. He added that it said it expects its employee count to be around 2,200 after this latest round of job losses.

It may be noted that unemployment in the Czech Republic has jumped to a more than three year high of 8.5% and many analysts see it growing to near 10% in 2010 as manufacturers shed jobs.

(Sourced from www.reuters.com)