The key effort now is to negotiate with strategic counterparties of JSW and the Group as a whole who understand the business and cyclicity of the raw materials industry. In previous crises, they supported JSW's liquidity by extending payment terms for liabilities and applying a system of discounts.
In addition, the companies were obliged to thoroughly analyze all areas of their operations, including their organizational structure, and improve efficiency.
The Management Board of JSW SA is aware that it is the employees that have the greatest potential and the power needed to carry out the transformation of JSW and its subsidiaries. Therefore, it has strongly emphasized that any optimization measures must not adversely affect the occupational safety of JSW and JSW Group employees. Joint efforts and determination will result in many rational solutions to stabilize the finances of the JSW Group. Specific benefits have already been outlined. In future meetings, the management board expects further initiatives and tangible results from its efforts.
