Polish developer to lay off 300 workers

Polish construction company Trakcja PRKiI intends to lay off about 300 employees by June 2017, the developer announced in a market filing. The main reason for such a decision is "significant delays in announcing tenders on the infrastructure market, chiefly rail, in the 2014-2020 EU financial horizon." Management is convinced that the headcount reduction will bring about a significant decline in fixed costs in the coming years, starting from 2017, a statement read. Trakcja PRKiI is one of the largest companies active in the infrastructure and energy construction sector in Poland. It has been listed on the Warsaw Stock Exchange since 2008.