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 provider of electrical systems Elektrobudowa announced that it launched a collective dismissal programme which will affect about 33% of the workforce. It implies that about 560 positions will be cut across Poland. The conditions of the restructuring will be negotiated with the local trade unions.
The company was declared bankrupt on March 24 after failing to secure new investments.
Elektrobudowa produces power equipment and provides complete electrical systems (including engineering, project management, procurement of materials and equipment, installation of systems, tests, commissioning, putting into operation and operation of the electrical systems) for the power sector, industrial sector, municipal and railway. Currently, the company employs 1,700 people across Poland.
Eurofound (2020), Elektrobudowa, Bankruptcy in Poland, factsheet number 100292, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/100292.