The company told the STA on Tuesday it had adopted measures aimed at keeping the business afloat and maintaining the healthy core of operations in the long-term.

By September, the number of employees will be reduced by 60 out of a workforce of about 700.

Some will retire and all those made redundant will receive severance pay.

The Covid-19 crisis has reduce the glass maker's orders, in particular the demand for table pieces and perfume glass bottles.

In September, tableware production will be terminated and the staff laid off. One furnace was already shut down this month.

The company plans to suspend production of fragrance bottles for a couple of months in September.

The demand for packaging, such as spirits bottles, has been affected as well.

"The company currently expects a 25% decrease in sales compared to this year's plan... By the end of the year, Steklarna Hrastnik may expect up to EUR 10 million less revenue compared to the projections. Profit will be down by some 15% compared to plans and 30% compared to last year," said the company.

Economic projections for the rest of the year are not looking good either, with the situation on the global glass market extremely precarious.

The company will carry out only the key investment this year, a furnace upgrade, but the scope of the project, worth some EUR 23 million, will be trimmed.

The investment is necessary for the company and the role it plays in the Zasavje region where the glass maker is one of the major employers.