The proposed agreement aims to adjust the level of remuneration costs to the current situation on the coking coal and coke markets and to the Company's current financial capabilities. These measures are a response to the significant deterioration in JSW's liquidity position over the next two months.
The draft agreement provides for temporary suspension of certain payroll benefits. The conclusion of the agreement is a key condition for obtaining financing from both state and private financial institutions. Failure to reach an agreement may result in the need to initiate formal restructuring processes in accordance with applicable law.
JSW expects joint trade union representation to be selected and the trade unions' position to be presented by 19 January 2026. At the same time, the Company's Management Board declares its readiness to commence talks immediately if representation is established earlier.
The Company emphasizes that both employers and trade unions have a statutory obligation to conduct negotiations in good faith, particularly with regard to the protection of the collective interests of employees, including wages and jobs.
JSW hopes for constructive dialogue and the rapid development of solutions that will enable the Company to continue stable operations in challenging market conditions.
