Lithuanian laser manufacturing startup QS Lasers, which has lost its largest client, is laying off almost half – 12 out of 28 employees. The company has notified the Employment Service of this.
QS Lasers CEO Evaldas Paliliūnas told the 15min portal that the company lost its largest client from South Korea, to whom it supplied lasers used in aesthetic clinics.
"The risk of a large customer was unmanaged - he stopped buying this year. The plan is to recover the loss of the customer with new sales within two years," the company's manager told the portal.
According to E. Paliliūnas, the company plans to look for new customers in Asia, but will focus primarily on the markets of the European Union, especially Germany and Spain.
"The reasons for the dismissal are Article 54 of the Labor Code - a decrease in the number of orders, loss of customers," the Employment Service informed BNS.
According to her, the largest number of production engineers who will lose their jobs - seven.
Founded in 2018, QS Lasers manufactures compact lasers for scientific and industrial applications.
The company's report submitted to the Center of Registers indicates that its net profit in 2023 decreased by 3 percent to 118,1 thousand euros, while revenue grew 2,1 times to 3,7 million euros.
According to Sodra, QS Lasers employs 14 people.
Author Aurimas Ragelis
[email protected], Business News Section
