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 30 May 2011, the Polish insurer Powszechny Zakład Ubezpieczeń announced a restructuring programme for 2011. Following negotiations with the unions, about 1,199 people will be dismissed. The restructuring will be implemented from 13 June until 10 October 2011.
PZU and PZU Życie (two companies within PZU Group) signed a bilateral agreement with the unions which stipulates the number of redundancies, the criteria for dismissing staff, the financial guarantees and the timeline.
However, the total number of dismissals may be higher and affect some 3,303 people. The employment conditions of part-time workers may also change.
The dismissals are part of a large restructuring programme within PZU Group, which is aims at centralizing the administrative activities and reducing costs.
Eurofound (2011), PZU, Internal restructuring in Poland, factsheet number 72046, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/72046.