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.
Exalo Drilling, a subsidiary of Polish national oil and gas group PGNiG, has announced that it will cut its employment capacity by 900 jobs in 2016. The group plans to reduce its operational costs by PLN 223 million (EUR 50.57mn USD 55.89mn) in 2016. Besides dismissals, the group plans to sell some of its real estate assets as well as implement redundancies in other subsidiaries, namely PGNiG and Geofizyka Kraków.
Exalo Drilling provides drilling and oilfield services in Central and Eastern Europe; PGNiG is the largest customer of the company.
Eurofound (2016), Exalo Drilling, Internal restructuring in Poland, factsheet number 88271, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/88271.