Despite numerous announcements about the company's increasingly better results, the Volvo boss has announced plans for mass job cuts. The layoffs will mainly affect office workers in Sweden. "Economic turmoil, rising raw material prices and increasingly fierce competition will most likely remain a challenge for our industry for some time," Volvo CEO Jim Rowan comments on the decision. This is yet another global giant that has recently decided to cut jobs. This shows that...

According to data from the National Debt Register of the Economic Information Office, the IT industry's arrears have increased by almost 22% and currently amount to over PLN 230 million. In March 2022, the sector's financial arrears amounted to less than PLN 180 million. The number of indebted entities increased from 6,388 to 7,028, and the average debt is PLN 32.8 thousand, which is PLN 4 thousand more than a year earlier. The IT sector is one of the industries that is particularly strongly affected by payment arrears. It would be much easier for companies to repay their debt,...

According to a report by Coface, in the first quarter of 2023, the insolvency of companies in Poland increased by 31% compared to the last quarter of 2022. It was added that the increase in insolvencies concerns every industry. The authors of the report noted that companies in Poland "are thriving in conditions full of concerns about the further development of demand, while other challenges, including higher operating costs, components used in production or staff shortages, remain significant barriers to conducting...

The latest edition of the EY CEO Outlook Pulse survey shows that according to 48% respondents, the slowdown will be moderate. On the other hand, 9% Polish CEOs expect a strong and lasting deterioration in the domestic economy. In turn, 41% believe that the slowdown will be strong but temporary. In addition, the majority of CEOs (59%) managing Polish companies believe that the recession will be more serious than the financial crisis of 2007-2008. Details are written by Dziennik Gazeta Prawna. The article was published in biznes.gazetaprawna.pl,...

McDonald, Accenture, Carrefour… – these are just the beginning of the list of giants that are cutting employment. The crisis related to inflation, banking turmoil, rising costs of companies and production forces changes in strategy also on strong and global players. This shows that the current market slump affects everyone, without exception. Entrepreneurs are forced to look for additional savings, which often involves the need to reduce positions in internal structures. At the same time, the latest...

The furniture industry's debt has been growing for half a year - it currently stands at PLN 101.1 million. This is over PLN 15 million more than in September 2022. The main reason for the sector's unsettled financial liabilities is rising inflation and the war in Ukraine. Obtaining raw materials and high energy prices are also a challenge. On top of all this, there is also a significantly lower demand for furniture, resulting from the difficulties in obtaining loans by Poles. The past year brought declines in orders of up to 20 percent. More details...

Only 5% of micro and small enterprises claim that it is easy to do business in Poland. However, as many as 79% believe that it is currently difficult or very difficult. These are the conclusions of the latest inFakt Indeks survey, illustrating the moods of business owners 🔍 The difficult situation of small enterprises is influenced by many factors, including the energy crisis, inflation and the war in Ukraine. Recently, the entrepreneur's ZUS contribution has increased. Regardless of whether the company has made a profit or not, it must...

The pandemic has curbed social activity, caused people to stay at home and mass events to be cancelled. And rampant inflation and uncertainty about the future financial situation have influenced consumers to shop less often and reach for beer. These two negative shocks have provoked a decline in beer consumption per capita: from 100 l per person before the global pandemic to 92 l today," says Magdalena Brzezińska, Corporate Affairs Director at Grupa Żywiec. As if that were not enough, despite...

In 2022, we noticed a visible increase in the number of companies undergoing restructuring in the sector producing gloves, masks, aprons and disinfectants. During the pandemic, the industry could count on record profits, and the assortment it offered sold like hot cakes. Currently, however, demand for medical products has decreased significantly. The reasons for the current problems are primarily small margins. The protective equipment industry is one of the few where prices are lower than before the pandemic by as much as 20-30 percent. Until...

Up to 10,000 Polish transport companies involved in international road transport are said to be at risk of bankruptcy. The reasons are the drastic increase in operating costs, rising fuel prices and the war in Ukraine. According to experts from the business consulting company PMR Restrukturyzacje, 30% of the over 35,000 transport companies that did not have the appropriate financial support may lose liquidity this year and find themselves on the verge of bankruptcy. In the most difficult...