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.
The Ministry of the Treasury's privatisation plans with respect to Przedsiębiorstwo Energetyczne Systemy Ciepłownicze (PESC), a utility generating heating power, has led the management of the entity to draw up and unveil a restructuring plan. Among other items, the plan calls for downsizing employment to 400 persons, down from the 600 employed in June 2004. The union organisation active within PESC is not willing to countenance such a solution, and it has commenced a collective dispute with the employer. The redundancy plans are being explained in terms of the enterprise's deteriorating financial condition; while the value of the enterprise is estimated at 50 million PLN, its debts have reached 80 million PLN.
Eurofound (2004), Przedsiębiorstwo Energetyczne Systemy Ciepłownicze, Internal restructuring in Poland, factsheet number 60429, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/60429.