15:28 24 July 2024
PKP Cargo plans major layoffs
PKP Cargo will implement group layoffs affecting up to 30% of its workforce, totaling up to 4,142 employees across its plants and headquarters. The company estimates that restructuring will cost around PLN 249 million, with anticipated annual savings of approximately PLN 423.4 million. If restructuring proceedings are approved by the court, layoffs may be funded by the Employee Benefits Guarantee Fund. Employees affected by the layoffs will receive severance payments based on their tenure. The company will prioritize maintaining key operations and minimizing the impact on essential functions. PKP Cargo, listed on the Warsaw Stock Exchange and part of the mWIG40 index, is Europe's second-largest rail carrier.
