The company "Invictus Technology Group," formed after "Prointer" and "Infinity International Group" were placed on the U.S. sanctions list, has laid off 110 employees, reports CAPITAL. The termination notices were signed last Friday.

Although the company did not directly confirm the exact number of layoffs, they did not deny it either. “As previously stated, ‘Invictus Technology Group’ Banjaluka was forced to take drastic measures, including significant staff reductions,” they told CAPITAL.

The company assured that it would fulfill its obligations towards the employees according to contracts and regulations.

Last month, Invictus announced that it would have to lay off a significant portion of its 170 employees due to financial instability following sanctions against “Infinity Group” and “Prointer.” They blamed the lack of support from banks, citing pressure from the U.S. Embassy in Sarajevo and concerns over further sanctions.

On June 18, the U.S. Office of Foreign Assets Control (OFAC) sanctioned several companies, accusing them of being part of a network that provides significant revenue to RS President Milorad Dodik and his family. Among the sanctioned companies were “Infinity International Group,” “Prointer ITSS,” and others.

In response, the management of these companies registered new entities, turning former managers into owners. “Invictus” was founded by managers from “Prointer” and “Sirius” and currently operates with two active bank accounts opened by a bank in the Federation of Bosnia and Herzegovina.