The parties have decided to conclude the Memorandum of Agreement in the interests of the employees and recognizing that job security and the continued operation of JSW is of paramount importance to all.
The total savings resulting from the Suspension Memorandum of Agreement concluded today in 2026-2027 are estimated at approximately PLN 1.2 billion. The Memorandum of Agreement should also enable the Company to raise the financing necessary for its continued operation.
The document suspends certain provisions of collective agreements concluded with trade union organizations and internal regulations in force at JSW.
Key changes include the suspension of the right to a 14th salary for 2026, the postponement of the payment date for the 14th salary for 2025 to 2027, and the payment of the Miner’s Festival bonus for the years 2025-2027 in installments. In addition, the payment of free coal allowance will be suspended and other benefits will be restricted.
One of the most important provisions of the Suspension Memorandum of Agreement is the possibility of restoring suspended benefits in the event of an improvement in the Company's financial standing. According to the provisions of the Memorandum of Agreement, if JSW's economic situation improves during the term of the memorandum of agreement the Company undertakes to pay the suspended benefits.
The Suspension Memorandum of Agreement enters into force on the date of its signing, with effect from 1 February 2026. It was concluded for a period of 23 months and will expire on 31 December 2027.
The Suspension Memorandum of Agreement is part of a comprehensive Remedy Program aimed at improving JSW's financial standing and securing the Company's future in the face of difficult market conditions.
- Today's signing of the Memorandum of Agreement is the result of responsible dialogue and joint efforts by all parties. In very difficult market conditions, we have managed to develop solutions based on responsibility and mutual trust. I would like to thank the employees, the trade unions, and the JSW Management Board for their determination and willingness to make difficult decisions during this challenging time. This is an important step that gives JSW a real chance to stabilize, raise financing, and secure the future of jobs - said Deputy Minister Grzegorz Wrona.
- The signed Memorandum of Agreement is the result of demanding negotiations and a conscious decision by employees confirmed in a referendum. This compromise is an essential element in the implementation of the JSW Remedy Plan and creates the conditions for restoring the Company's financial stability. I would like to thank the employees and the trade unions for their responsible approach and constructive dialogue. Thanks to the joint commitment of all parties, JSW now has a real chance to continue operating, developing, and maintaining jobs - said Bogusław Oleksy, acting president of JSW.
