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.
Manufacturing Manufacturing Of Furniture And Other Manufacturing Manufacture Of Furniture 31.0 - Manufacture Of Furniture
230 jobs Number of planned job losses
Announcement Date
3 November 2023
Employment effect (start)
3 November 2023
Foreseen end date
31 January 2024
Description
The FORTE furniture factory, located in Ostrów Mazowiecka, has started a process of group layoffs, leading to the termination of contracts with up to 230 employees (10% of the company's workforce).
Due to a substantial decline in demand for furniture, the company faced a deteriorating financial situation, resulting in the need to take measures to improve operational and cost efficiency. The restructuring aims at adjusting the level of employment costs to the current financial and market situation. The layoffs are expected to be completed by January 31, 2024, with the process starting on the 3rd of November.
Fabryki Mebli FORTE S.A. is a company based in Ostrów Mazowiecka, producing furniture since 1992. Since 1996 the company has been listed on the Warsaw Stock Exchange. The company is one of the leaders in the furniture industry in Poland, as well as the largest exporter of Polish furniture.
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