Business & Finance
VF Jeanswear to close down Malta operations
By MaltaMedia News
Jun 19, 2007 - 3:06:31 PM

VF Jeanswear will be closing down its operations in Malta since salaries payable to to around 570 local employees are substantially higher than those that would need to be paid to workers in the manufacturing sector in foreign countries. The company plans to relocate, reflecting global trends.  

The decision was communicated to Minister for Investment, Industry and Information Technology (IT) Austin Gatt on Tuesday, as he met  a delegation from VF Corporation, led by Deputy President responsible for the company’s operation Noel Kyndt.  

The Ministry contacted the Employment and Training Corporation for a resources’ mobilisation so that laid off workers will find new employment elsewhere. If necessary employees will also be re-trained through funds set up specifically for this aim.  

In a statement, Minister Gatt expressed his regret over the situation and pledged to use all necessary resources to find the VF Jeanswear operators new employment in the shortest time possible.