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.
In July 2012, construction company Strabag announced plans to cut employment by 20%. Paweł Antonik, the director of the company, said 1,700 out of 5,500 jobs are expected to be cut by the end of 2012.
The Polish Association of Construction Industry Employers (PZPB) anticipates that up to 100,000 jobs in the Polish construction industry will be cut by the end of 2012, because of diminishing EU funds and the fact that many motorway construction projects have already been completed or are close to being completed.
In the first quarter of 2012, 50% of construction companies in Poland made losses and since the beginning of the year, 110 construction companies announced bankruptcy.
Eurofound (2012), Strabag, Internal restructuring in Poland, factsheet number 74037, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/74037.