Director-General of LP Andrzej Konieczny explained in an interview with the Polish Press Agency that the lower revenues of the company are mainly due to the spring stagnation in the wood industry caused by the COVID-19 pandemic and the economic slowdown.
‘Producers of sawn timber, boards, paper and packaging, carpentry and furniture significantly reduced their orders for wood or withdrew from already signed contracts, which hit the largest supplier of this raw material, i.e. the State Forests,’ he stressed.
The State Forests saved on forest services and incurring new liabilities were also suspended. The company postponed some of the planned investments. The hiring of new people was also suspended, while the process of retiring employees was accelerated. The company added that the average salary in LP has also dropped significantly. In July, it amounted to PLN 6,639 gross (including prizes, etc.), 15 per cent less than assumed in this year's plan.
Author: Paweł Tunia
Source: Poland Daily