For the glassmakers at iconic French tableware brand Duralex, the mornings have become a horror show.
Before Europe’s energy crisis — which took off after the COVID-19 pandemic and became a full-blown economic threat with Russia’s war in Ukraine — the price charts were reassuringly stable. They have since become a terrifying succession of peaks and troughs, with Russia choking off cheap natural gas deliveries in a battle of wills with European leaders over their support for Ukraine.
Duralex will join a growing array of European firms that have reduced and halted production because they’re hemorrhaging money on the energy needed to keep running. Facing the risks of power shortages, rationing and blackouts when demand surges this winter and of an expected recession as businesses shut down, Europe is scrambling for energy alternatives, stockpiling gas and urging consumers to save. European Union energy ministers are holding emergency talks Friday on the bloc’s latest proposals for alleviating the crisis.
In the meantime, the 250 employees will work fewer days, with drops in pay just as inflation is gnawing at household budgets.
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