Restructuring events
European Restructuring Monitor (ERM)
The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
Polish industrial boiler manufacturer Rafako has announced that it will cut up to 400 jobs via a collective dismissal programme at its facility in Racibórz, Poland. The programme will affect mainly managerial roles across all divisions of the company. The conditions of the programme will be negotiated with the local trade unions. The company has revealed that the aim of the programme is to adjust its employment level to the current market situation, and improve financial and operational effectiveness of the company.
In 2019, Rafako recorded a loss of PLN 284 million (€63,44 million); the COVID-19 pandemic has further worsened company's financial situation.
Eurofound (2020), Rafako, Internal restructuring in Poland, factsheet number 101621, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/101621.