Exbud Skanska's financial difficulties lead to 4,000 lay-offs

Exbud Skanska has announced plans to lay off 4,000 workers. The construction company's press spokesperson, Agnieszka Kania, has said the redundancies will affect both white-collar and blue-collar workers in all companies belonging to the Exbud Skanska group. In the wake of recent extremely poor financial results, the company's shareholders will meet on December 11 to decide whether to declare bankruptcy. "In such an atmosphere it will be easier for the staff to accept the decision on the lay-offs," said one analyst. However, Robert Chojnacki of BM BGZ is more optimistic. "I don't believe Skanska will opt to liquidate a brand like Exbud. I think that in reality the company's financial situation is better than the reports suggest," he said. Recently, Skanska admitted that the purchase of Exbud, given the current situation on the construction market, had been a mistake. Skanska controls 94% of Exbud. (Puls Biznesu, p. 8; Prawo i Gospodarka, p. 11) A.Z.