Restructuring events
European Restructuring Monitor (ERM)
The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
Borgers CS, a manufacturer of textiles and mouldings for cars will lay off about 400 agency workers on Friday 20th March and hundreds more people will gradually stay home and be receiving 60% of their average earnings. The reason for this is the cancellation of orders from the three largest automakers (Škoda Auto, TPCA and Hyundai) that are closing or significantly reducing their domestic production due to the coronavirus pandemic.
The company currently employs more than 2,000 people at its four plants in the Rokycany region and is preparing to shut down part of the production.
Borgers CS is part of the German Borgers Group with 23 manufacturing plants in Europe, China and the USA.
Eurofound (2020), Borgers CS, Internal restructuring in Czechia, factsheet number 100052, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/100052.