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.
The Polish producer of bicycles KROSS announced that it plans to cut about 100 jobs throughout a collective dismissal programme at its production facility in Przasnysz. The company reveals that measures included in the Anti-Crisis Shield (a package of laws and financial instruments aimed to support Polish companies amid the growing pandemic) will be insufficient to deal with the economic effects of the COVID-19. The redundant workers will receive severance pay.
KROSS has been operating since 1990; the company is one of the largest producers of bikes in Poland, annually it produces around 300,000 wheelers. The company specialises in the production of a wide range of bicycles: mountain, urban, trekking, children, cross and road bicycles.
Eurofound (2020), Kross, Internal restructuring in Poland, factsheet number 100220, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/100220.
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