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.
Financial Services Financial And Insurance Activities Insurance, Reinsurance And Pension Funding, Except Compulsory Social Security 65 - Insurance, reinsurance and pension funding, except compulsory social security
1,199 - 3,303 jobs Number of planned job losses
Announcement Date
30 May 2011
Employment effect (start)
13 June 2011
Foreseen end date
10 October 2011
Description
On 30 May 2011, the Polish insurer Powszechny Zakład Ubezpieczeń announced a restructuring programme for 2011. Following negotiations with the unions, about 1,199 people will be dismissed. The restructuring will be implemented from 13 June until 10 October 2011.
PZU and PZU Życie (two companies within PZU Group) signed a bilateral agreement with the unions which stipulates the number of redundancies, the criteria for dismissing staff, the financial guarantees and the timeline.
However, the total number of dismissals may be higher and affect some 3,303 people. The employment conditions of part-time workers may also change.
The dismissals are part of a large restructuring programme within PZU Group, which is aims at centralizing the administrative activities and reducing costs.
Sources
30 May 2011: Wirtualny Nowy Przemysł
: ()
Citation
Eurofound (2011), PZU, Internal restructuring in Poland, factsheet number 72046, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/72046.
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