EMCC European Monitoring Centre on Change

Syntex

Company/Organisation:
Syntex

Geographic Location

Country: Poland
Region: Lodzkie; Centralny
Location of affected unit(s): Łowicz

Company

Sector: Manufacturing
Manufacture of textiles, apparel, leather and related products
14.1 - Manufacture of wearing apparel, except fur apparel

Employment Effects

Announcement Date: 30-03-2020
Planned Job Reductions min: 100
Type of Restructuring: Closure
Employment Effect Start: 30-03-2020

Additional Information

Syntex, a Polish hosiery company, announced that it plans to implement a collective dismissal programme and close its production facility in Łowicz, Poland. The restructuring will affect about 100 positions, and the redundant employees will receive severance pay equal to three months of salary. As the source reports, the COVID-19 pandemic has worsened the financial situation of the company; during the pandemic, Syntex has lost financial liquidity. The restructuring programme was registered by the company in the local employment agency in Łowicz.

Syntex has been operating since 1968; the company specialises in the production of socks, tights and other hosiery.

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