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 BOT Górnictwo i Energetyka holding company was established to guarantee energy security for the country and the proper functioning of the power market. The company includes six entities: BOT Górnictwo i Energetyka, Elektrownia Bełchatów, Elektrownia Opole, Elektrownia Turów, Kopalnia Węgla Brunatnego Bełchatów and Kopalnia Węgla Brunatnego Turów. BOT Górnictwo i Energetyka holds 69% shares of each subsidiary within the group.
Polish senator Zdzisława Janowska blamed BOT executives of poor management and financial exploitation of the BOT Elektrownia Bełchatów which is Poland's and Europe's largest lignite-fired power plant, generating the least expensive power in Poland.
As a consequence, BOT's management declared that it has to dismiss half of 23,000 people employed; from 3,000 to 4,000 in 2005. Management claims that some entities of the company employ from 30% to 40% of staff in excess, this overemployment generating large costs.
Eurofound (2005), BOT Górnictwo i Energetyka, Internal restructuring in Poland, factsheet number 61706, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/61706.
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