Pula Steel sends 190 workers on unpaid leave

The unpaid leave is effective from July 1 to July 30. The company management explained in an interview that the closure has aggravated their already weak current financial situation and placed the company in a position where it cannot meet its financial commitments.

The closure means that the company is losing 100 tonnes per day of production and P70,000 a day towards fixed costs and has a negative effect on gross profit amounting to P100,000 a day.