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.
Jastrzębska Spółka Węglowa (JSW), a coal mining company, has announced that it will cut further 1,700 jobs by the end of 2017.
In total, together with a dismissal programme announced in July 2016 affecting about 1,200 jobs, the company will cut 2,900 positions by the end of 2017.
The restructuring programmes are a part of larger restructuring plans for 2016-2025 aiming at increasing financial effectiveness as the company is facing financial problems resulting from the crisis in Poland’s coal-mining industry. According to the restructuring plan, some subsidiaries (Ruch Jas-Mos and Krupiński coal mine) will be transferred to Spółka Restrukturyzacji Kopalń, and other (Spółka Energatyczna Jastrzębie and Wałbrzyskie Zakłady Koksownicze Victoria) will be sold.
Spółka Restrukturyzacji Kopalń is an entity which manages the process of closing down mining companies, including managing of the assets of liquidated mines.
Currently, Jastrzębska Spółka Węglowa employs about 23,500 people.
Eurofound (2016), Jastrzębska Spółka Węglowa, Internal restructuring in Poland, factsheet number 88600, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/88600.