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 industrial boiler manufacturer Rafako has announced that it will cut 200 jobs via a voluntary dismissal programme at its facility in Racibórz. The company will implement the programme in order to adjust its employment level and costs to the current market condition. Workers can join the programme from 1st December 2016 to 31st January 2017. Redundant workers will receive a severance pay. The cost of the voluntary dismissal programme are estimated to around PLN 15 million (EUR 3.34 million USD 3.91 million). At the and of June 2016, the company employed 2,459 people.
Update (31/01/2017): Rafako has announced that 128 employees entered the voluntary dismissal programme which ended on 31 January 2017. Initially, this number was estimated to reach 200. Currently, the costs of the programme will be approximately PLN 7.7 million (EUR 1.75 million USD 1.93 million).
Eurofound (2016), Rafako, Internal restructuring in Poland, factsheet number 89310, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/89310.