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.
Mining / Quarrying Mining And Quarrying Mining Of Coal And Lignite 05.1 - Mining of hard coal
1,700 jobs Number of planned job losses
Announcement Date
30 August 2016
Employment effect (start)
Foreseen end date
31 December 2017
Description
Jastrzębska Spółka Węglowa (JSW), a coal mining company, has announced that it will cut further 1,700 jobs by the end of 2017.
In total, together with a dismissal programme announced in July 2016 affecting about 1,200 jobs, the company will cut 2,900 positions by the end of 2017.
The restructuring programmes are a part of larger restructuring plans for 2016-2025 aiming at increasing financial effectiveness as the company is facing financial problems resulting from the crisis in Poland’s coal-mining industry. According to the restructuring plan, some subsidiaries (Ruch Jas-Mos and Krupiński coal mine) will be transferred to Spółka Restrukturyzacji Kopalń, and other (Spółka Energatyczna Jastrzębie and Wałbrzyskie Zakłady Koksownicze Victoria) will be sold.
Spółka Restrukturyzacji Kopalń is an entity which manages the process of closing down mining companies, including managing of the assets of liquidated mines.
Currently, Jastrzębska Spółka Węglowa employs about 23,500 people.
Sources
30 August 2016: Polskie Radio
1 September 2016: Strefa Biznesu
Citation
Eurofound (2016), Jastrzębska Spółka Węglowa, Internal restructuring in Poland, factsheet number 88600, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/88600.
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