French crystal producer Baccarat, part of the French luxury goods and hotels company Societe du Louvre, posted a consolidated net profit of EUR 947,000 for 2002, compared to EUR 2.5M in 2001, the company announced. A reduction in production capacity at the company lead to the fall in profit. Baccarat's consolidated turnover decreased by 1.5% year-on-year to EUR 126.8M in 2002. The company obtains some 80% of its turnover abroad. Baccarat employees held a protest meeting in Paris on 26 Feb/03 against a possible corporate restructuring plan. The firm laid off 96 employees at its plant in Meurthe-en-Moselle, Lorraine region, at the end of June/03. 64 production jobs also went from the same site, with a further 3 redundancies at its plant in Paris. (whole item)
