PKN slashes costs and workforce
The new scheme, called Optima, is aimed at saving a minimum of zł.600 million in operational costs and reducing investment costs by a further zł.600 million by 2009. Optima will apply to both the core operations of PKN Orlen and its capital group but it does not cover the newly acquired Czech Unipetrol.
Igor Chalupec, PKN Orlen CEO, said: "Increasing cost and investment efficiency is one of the key elements of our strategy. Our plans are based on best practices in the industry." The petrol concern is planning to save about zł.190 million as a result of a retail sales restructuring program and approximately 200 petrol stations will be closed, as they do not comply with environmental regulations.
PKN Orlen will also continue its very popular plan of voluntary redundancies. Members of staff willing to leave can count on a payoff of up to zł.200,000 - the highest offered by a Polish enterprise so far. PKN currently employs 14,000 people and wanted to cut 320 jobs in its regional branches. Workers were offered zł.50,000 each plus another zł.4,000 for each year of work. Some 700 employees were willing to leave, including almost all the IT specialists and economists, forcing PKN to tack on a caveat, saying any employee wanting to quit had to get permission from their supervisor.
PKN says the cost savings will be implemented in outlay optimization, the centralization of purchases and investment services, and planning rationalization, together with implementation and verification of investment projects.
However, having successfully completed the purchase of Unipetrol, the Polish oil giant is now considering buying the biggest Turkish petrol producer - Tupras. Some 51 percent of its shares will soon be sold by the Turkish Privatization Agency for an estimated $1.5-1.7 (zł.5.1-5.8) billion.
Igor Chalupec, PKN Orlen CEO, said: "Increasing cost and investment efficiency is one of the key elements of our strategy. Our plans are based on best practices in the industry." The petrol concern is planning to save about zł.190 million as a result of a retail sales restructuring program and approximately 200 petrol stations will be closed, as they do not comply with environmental regulations.
PKN Orlen will also continue its very popular plan of voluntary redundancies. Members of staff willing to leave can count on a payoff of up to zł.200,000 - the highest offered by a Polish enterprise so far. PKN currently employs 14,000 people and wanted to cut 320 jobs in its regional branches. Workers were offered zł.50,000 each plus another zł.4,000 for each year of work. Some 700 employees were willing to leave, including almost all the IT specialists and economists, forcing PKN to tack on a caveat, saying any employee wanting to quit had to get permission from their supervisor.
PKN says the cost savings will be implemented in outlay optimization, the centralization of purchases and investment services, and planning rationalization, together with implementation and verification of investment projects.
However, having successfully completed the purchase of Unipetrol, the Polish oil giant is now considering buying the biggest Turkish petrol producer - Tupras. Some 51 percent of its shares will soon be sold by the Turkish Privatization Agency for an estimated $1.5-1.7 (zł.5.1-5.8) billion.
