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Poland’s largest rail freight carrier to lay off over 4,000 staff

Poland’s largest rail freight carrier to lay off over 4,000 staff

20:28, 04.07.2024
  ew/jd;   money.pl
Poland’s largest rail freight carrier to lay off over 4,000 staff Poland’s largest rail freight carrier is to lay off over 4,000 people as part of restructuring proceedings aimed at improving the company's financial and liquidity situation.

Poland’s largest rail freight carrier is to lay off over 4,000 people as part of restructuring proceedings aimed at improving the company's financial and liquidity situation.

Cash-strapped PKP Cargo said it planned to make 30% of its workforce redundant by the end of September. (Photo by Michal Fludra/NurPhoto via Getty Images)
Cash-strapped PKP Cargo said it planned to make 30% of its workforce redundant by the end of September. (Photo by Michal Fludra/NurPhoto via Getty Images)

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Cash-strapped PKP Cargo said it planned to make 30% of its workforce redundant by the end of September, adding that at the end of June 20% of employees had already been made unemployed.

Offering logistics services, combining rail, road and sea transport, the company operates not only in Poland, but also in the Czech Republic, Slovakia, Germany, Austria, the Netherlands, Hungary, Lithuania and Slovenia.

But the company’s market share in rail transport fell from 50.4% in 2012 to 33.1% in 2023.

The company's profit amounted to PLN 82.10 million in 2023, compared to PLN 148 million in 2022.

In Q1 2024, the Group recorded a loss of PLN 118 million, and operating revenues fell to PLN 1.19 billion from PLN 1.58 billion in Q1 2023.
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źródło: money.pl