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
376 jobs Number of planned job losses
Announcement Date
10 July 2012
Employment effect (start)
Foreseen end date
31 December 2012
Description
On 10 July 2012 the Polish insurance company PZU announced a restructuring programme for 2012, which will be implemented in two companies of the group, i.e. PZU (Powszechny Zakład Ubezpieczeń) and PZU Życie. A total of 376 jobs is to be cut by the end of 2012.
Redundant employees will receive a severance pay. PZU has already started negotiations with the local trade unions.
The dismissals are part of a large restructuring programme within PZU Group, which has been carried out since 2009. The programme aims at centralizing the administrative activities and reducing costs. Since 2009 the company has dismissed about 3,600 employees.
Sources
10 July 2012: Rzeczpospolita ()
10 July 2012: Forbes ()
Citation
Eurofound (2012), PZU, Internal restructuring in Poland, factsheet number 73875, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/73875.
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