Polish state-owned operator PKP Cargo appears unable to pay “July’s salaries, retirement severance pays and jubilee bonuses” to a group of “several hundred employees”. The reason for that is the lack of liquidity. Previously, the company’s management board and worker trade unions demanded the urgent payment of the so-called ‘coal decision’ compensation to “help save the company”.
In a statement, the under-restructuring company underlined that it will ensure that outstanding payments are made “on the first possible date, together with the interest due.” In other words, those payments are not lost but postponed until further notice.
This latest development indicates PKP Cargo’s dire financial situation. Previously, the company’s management board and worker trade unions demanded the urgent payment of the ‘coal decision’ compensation. Despite having appealed to the government before for this matter, PKP Cargo’s board needs to see quicker actions taken towards its salvation since the clock is ticking.
The urgency is also apparent in the recent statements of Marcin Wojewódka, acting president of PKP Cargo: “Month by month, we collect funds to pay salaries. Our goal is to fix the situation – in the financial, market, rolling stock and organisational areas. We are on the right track, but without money, it may not be possible, and the company lacks it,” he underlined, hinting at the ‘coal decision’ compensation.
Relocation deal for 200 more employees
On a more positive note, PKP Cargo also signed Letters of Intent with PGE Energetyka Kolejowa SA, one of Poland’s largest energy companies, and WARS, a passenger transport service company, for the transfer of 200 of its employees. Each company will absorb 100 employees. PKP Cargo has reached similar deals for the transfer of its workforce with other companies, too.