Fashion companies are shutting down activities in Albania. Continued losses are forcing them to relocate to other locations, leaving behind hundreds of workers.

The prolonged crisis stemming from the devaluation of the euro is forcing fashion companies in the country to take drastic decisions.

Some of them have reduced their staff, leaving tens-hundreds of employees in assistance, while others are relocating their activities.

According to the exporters’ association, in just a few days there are about a thousand employees who have lost their jobs, while others have chosen countries such as Tunisia and Egypt, where the cost of production is cheaper.

For the association, the costs increased significantly in the country, when the euro began to lose points against the lek and the minimum wage increased twice.

The government does not share the same opinion, as it sees the activity of fashion in a loss and instead of direct assistance in the sector, suggests that employees look for work in other sectors, such as tourism, which is currently booming.

The outsourced textile and footwear industry is one of the largest employers in Albania, and official data shows that for more than 6 months in a row, textile and footwear exports have fallen.