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Grupa Azoty in a difficult situation. Debt approx. PLN 10 billion

Grupa Azoty w trudnej sytuacji. Zadłużenie ok. 10 mld zł

As reported, trade unionists are afraid that they will share the fate of PKP Cargo, where large layoffs are expected. Grupa Azoty is also in a difficult financial situation due to its debt of approximately PLN 10 billion. Recently, it announced that Zakłady Azotowe Puławy is discontinuing melamine production, citing high gas costs, emissions and imports from non-EU countries as the reason for this decision.

Grupa Azoty: Zakłady Azotowe Puławy suspends melamine production

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Grupa Azoty: Zakłady Azotowe Puławy suspends melamine production

Grupa Azoty and restructuring

Grupa Azoty incurred a very large debt, among others. for the construction of the Polimery Police factory, which is still not completed. As money.pl reminds, the loans taken out for the construction of the Police plant were secured by other plants of the concern. Therefore, this debt burdens the entire group today. The situation on the fertilizer market is also unfavorable for it, because many fertilizers were imported from so-called third countries and thus the demand for our fertilizers decreased.

All this is very worrying for the Group's employees. In their opinion, this could be a precursor to mass layoffs.

Grupa Azoty says what influences fertilizer prices and what the season will look like

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Grupa Azoty says what influences fertilizer prices and what the season will look like

Will there be layoffs at Grupa Azoty?

– Recently, the management boards of Grupa Azoty and the group's main companies asked trade unions to suspend selected provisions of the Collective Labor Agreements (ZUZP). This Friday, talks on this matter are to take place between trade unionists and the management of companies operating within the concern – we read on money.pl.

Trade unionists reported that they first heard at a meeting with the management board that work was underway on a voluntary departure program. Then, two days later, it was announced that they were offered the suspension of 18 points of the collective agreement.

The company wants to implement a recovery plan. As reported, the proposal of the Grupa Azoty Management Board includes, among others: suspension of bonuses and annual bonuses for employees, but also of retirement and pension severance pay, as well as overtime remuneration.

Grupa Azoty: management boards request unions to suspend part of the collective labor agreement

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Grupa Azoty: management boards request unions to suspend part of the collective labor agreement

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