EMCC European Monitoring Centre on Change

ZSSK CARGO

Company/Organisation:
ZSSK CARGO

Geographic Location

Country: Slovakia
Location of affected unit(s): Slovakia

Company

Sector: Transportation / storage
Transportation and storage
49.2 - Freight rail transport
Number Employed: 4757

Employment Effects

Announcement Date: 09-01-2021
Planned Job Reductions min: 918
Planned Job Reductions max: 1000
Type of Restructuring: Internal restructuring
Foreseen End Date: 30-06-2021

Additional Information

Slovak state-owned rail company ZSSK Cargo goes through serious internal restructuring which will result in mass redundancies of around 1,000 people in 2021. Out of these, about 450 employees will be dismissed till the end of the first quarter of 2021. The layoffs should be finished during the second quarter of 2021. Massive job cuts are attributed to significant decrease in company's outputs in 2020 as compared to the previous years. The decrease was caused by the worldwide situation in the steel industry and by the decline of coal industry in Slovakia, with the COVID-19 pandemic worsening the situation.

At the beginning of December 2020, the company employed 4,757 people. 

Previous case of job reductions was announced in October 2020 (490 dismissals). 

Update on 15/6/2021: The company improved its performance in January-May 2021 and reduced the number of redundant employees from planned 442 to 360.

Sources: