16:21 17 January 2026
Money for JSW will round out in February
Jastrzębska Spółka Węglowa (JSW) is facing a severe financial crisis and may run out of cash as early as February 2026. The company is reportedly losing several hundred million złoty each month, prompting Wojciech Balczun, Minister of State Assets, to warn that bankruptcy is a real scenario. Management is holding what are described as “last-chance” talks with trade unions, as continued operations depend on deep restructuring.
A proposed PLN 2.9 bln loan from the Reprivatization Fund and additional financing are conditional on union approval of sharp labor-cost cuts. JSW’s exceptionally high unionization — 82 unions and widespread union-only positions — complicates negotiations. Without agreement on suspending bonuses and benefits and implementing austerity measures, external funding may fail to materialize, threatening the company’s survival.
