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PKP Cargo SAPKP Cargo hauler restructuring plan to be submitted in last days of February
Listed rail hauler PKP Cargo's restructuring plan is expected to be submitted in the last days of February, the company said in a press release, adding that it will include information on the company's development directions in the following years.
As it was stated, "the management board plans to 'go to zero' by the end of the current year in terms of the financial situation in order to be able to make profits in the coming years".
PKP Cargo's deputy CEO Pawel Milek, quoted in the press release, said that freight results do not yet fully meet the company's expectations, but assured that new commercial contracts will come into force in the coming months, which should have a positive effect in the following quarters.
Last October 31 saw the end of the process of group layoffs at PKP Cargo, during which 2,515 employment contracts were terminated.
Collective redundancies at the company started at the beginning of July 2024. At that time, a group of 1,150 employees also ended their employment for reasons other than restructuring. The result of the process is a reduction of 3,665 employees across PKP Cargo.
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