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 producer of mining machinery and equipment Fabryka Maszyn i Urządzeń Tagor, a subsidiary of Kopex group, has announced that it will cut 120 out of its 282 jobs via a collective dismissal programme at its unit in Tarnowskie Góry. The programme will be implemented in June 2016. The company is negotiating the conditions of the programme with the local trade union. Redundant workers will receive a severance pay. The main reason behind the decision is a fall in orders for powered roof supports used in the mining industry, which is a key segment of the company. The restructuring programme aims to improve the financial and organisational effectiveness of the company. According to the company, the redundancies will bring savings of PLN 4 million (EUR 0.9 million USD 1.0 million).
Eurofound (2016), Fabryka Maszyn i Urządzeń Tagor, Internal restructuring in Poland, factsheet number 87709, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/87709.