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.
On 26 January 2011, a leading Polish supplier and exporter of armament and military equipment the Bumar Group announced it will cut 2,000 jobs by the end of 2012. The job cuts are a result of a restructuring programme, which was initiated after the recession and has affected all factories across Poland. The programme is focused on closing or selling non-military production companies within the Bumar Group. The trade unions strongly opposed redundancies, but eventually the bilateral agreement between trade unions and company was signed on 24 January 2011. The redundant employees will receive a severance pay from 4,000 to 10,000 EUR. For earlier report on Bumar look at the factsheet ID 14351.
The Bumar Group has 24 manufacturing and trading companies specialised in production of munitions, radars, rockets and armour. Also the group has construction service companies and agricultural plant.
Eurofound (2011), Bumar Group, Internal restructuring in Poland, factsheet number 70894, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/70894.