JSW launches recovery program and announces major workforce reductions

JSW (Jastrzębska Spółka Węglowa) has introduced a Recovery Program for the years 2026–2035 aimed at rebuilding cash positions, improving competitiveness, and reducing extraction costs. A key component of the strategy involves increasing the share of coking coal from 85% in 2025 to 94% by 2029, while lowering cash extraction costs from 738.02 PLN to 560.16 PLN per ton.

As part of these cost-reduction efforts, the company is implementing significant workforce reductions. CEO Bogusław Oleksy confirmed a planned decrease of 4,248 employees in 2026, with approximately 2,200 departures scheduled for the third quarter and 1,400 for the fourth quarter. This follows a workforce of 20,488 at the end of 2025.

Financially, JSW shares have recently experienced high volatility, recovering slightly to around 30 PLN after a 24% decline. The company's ability to maintain this support level and execute its optimization plans—including changes to mine work models and improved equipment utilization—will be critical for its long-term stability.