It is impossible to continue operating in a situation where costs exceed revenues. Optimizing labor costs is one of the main conditions for ensuring the continued operation of JSW and raising the necessary financing. All corrective measures that were directly up to the Management Board have already been implemented or are at an advanced stage of implementation. However, without agreement with the social partners on temporary labor cost reductions, effective implementation of the recovery program will not be possible.
In the past, trade unions have repeatedly demonstrated their responsibility for the future of the Company and its employees. Today, this attitude is particularly important.
On Tuesday, 30 December, talks will be held that will significantly determine the future of JSW and thousands of jobs. The Management Board strongly urges the trade unions to act responsibly, be ready to compromise, and make decisions that will secure the future of the Company. The attitude of the trade unions will determine whether it will be possible to launch key corrective measures and avoid the most serious consequences for JSW and its employees.
Only joint efforts and cooperation between all parties will make it possible to limit risks and create conditions for the Company's continued stable operation. In the face of harsh economic realities, there is no room for illusions - each side must take joint responsibility for the future of JSW, knowing that the fate of the region and the future of thousands of mining families depend on the decisions made today.
