PKP Cargo hauler's subsidiary begins process of collective redundancies

Listed rail hauler PKP Cargo's subsidiary, PKP CargoTabor, begins the process of carrying out collective redundancies, which will affect no more than 520 employees, no later than the end of November 2024, PKP Cargo said in a market filing.

As stated, the estimated cost of conducting the redundancy process will generate a cost of PLN 6.55 million (EUR 1.5 mln).

"The subsidiary assumes the possibility of raising funds, in order to temporarily finance the aforementioned costs, from the guaranteed employee benefits fund FGSP," PKP Cargo wrote in the market filing.

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