LNM signs social package with PHS employees

The acquisition of PHS by LNM was the first major privatization deal in which the investor reached a social agreement with trade unions before signing the deal. Now that this final step is complete, LNM guarantees the 16,000 strong staff at PHS employment for six years, a zł.100 raise and a zł.2500-3000 privatization bonus. However, it does not cover the subsidiaries of PHS, meaning that some 2000-3000 people could be laid off from its 130 subsidiaries. (Puls Biznesu, p.10) T.J.