EMCC European Monitoring Centre on Change

Strabag

Company/Organisation:
Strabag

Geographic Location

Country: Poland

Company

Sector: Construction
Construction
41.2 - Construction of residential and non-residential buildings
Number Employed: 5500

Employment Effects

Announcement Date: 12-07-2012
Planned Job Reductions min: 1700
Type of Restructuring: Internal restructuring
Foreseen End Date: 31-12-2012

Additional Information

In July 2012, construction company Strabag announced plans to cut employment by 20%. Paweł Antonik, the director of the company, said 1,700 out of 5,500 jobs are expected to be cut by the end of 2012.

The Polish Association of Construction Industry Employers (PZPB) anticipates that up to 100,000 jobs in the Polish construction industry will be cut by the end of 2012, because of diminishing EU funds and the fact that many motorway construction projects have already been completed or are close to being completed.

In the first quarter of 2012, 50% of construction companies in Poland made losses and since the beginning of the year, 110 construction companies announced bankruptcy.