Labod Reports Loss, Downsizing to Follow

Novo Mesto, 19 February - In another example of troubles faced by the Slovenian textile industry, clothes-maker Labod reported a loss of SIT 270m (EUR 1.2m) for 2002 on Wednesday. Further job cuts are to follow at the Novo mesto-based company, which has reduced its workforce from 1,384 to 429 between 1998 and 2002.