4000 job cuts in Oil concern PKN restructuring?

PKN Orlen intends to sell its shares in 40 subsidiaries within the capital g roup including owner Plus GSM mobile phone operator Polkomtel, by the end of 2004. Thanks to the transaction, Orlen will earn zł. 85 million. "The revenu es will strengthen our position in the process of regional consolidation" sa id the company's representative. As a result of the restructuring, around 4, 000 employees will be made redundant. Orlen recently announced its intention to submit to the Treasury Ministry, a proposed program of creating a Central-European concern. So far, Hungarian MOL, Austrian OMV and Unipetrol of the Czech Republic have expressed interest in the project. (Parkiet, p. 6) A.Z.