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.
PGO (Polska Grupa Odlewnicza), the Polish leader in the production of castings and forgings, announced that it will cease its production and close its branch located in Stalowa Wola, Poland. As a result, 126 jobs will be cut throughout a collective dismissal programme and the production will be relocated to the unit in Piotrków Trybunalski. The programme is to be registered at the local employment agency.
The board of the company decided to reorganise the steel casting segment is due to the COVID-19 crisis. The programme aims to improve financial efficiency and prevent the company from generating losses in subsequent periods. It is estimated that the costs of the restructuring programme will be at PLN 4.70 million (€1.09 million) in 2020-2021.
PGO was founded in 2008; the company has production facilities in three locations: Stalowa Wola, Gorlice and Piotrków Trybunalski.
Eurofound (2020), PGO, Closure in Poland, factsheet number 102052, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/102052.