Restructuring events
European Restructuring Monitor (ERM)
The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
The ISD Częstochowa steel mill - ISD Huta Częstochowa - has signed the bilateral agreement with the local trade unions on a voluntary redundancy programme.
White-collar workers account for 30% of the whole workforce. According to the management, the number of white-collar workers needs to be reduced by 250-300 people; it is, however, not possible to reduce the workforce as the company had guaranteed employment up to 2015 for all workers. This guarantee is stated in the bilateral agreement signed in 2005 when the ISD Group made acquisition of the steel mill. The voluntary redundancy programme is, therefore, the only way to trim the workforce. Those who will opt for a voluntary departure within the first three months will receive a severance pay equal to 22 months' wages. Other workers who will join the voluntary redundancy programme later will be entitled to a severance pay equal to 19 months' wages.
Eurofound (2011), ISD Huta Częstochowa, Internal restructuring in Poland, factsheet number 72222, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/72222.
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