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.
AGC Automotive Czech, a car glass manufacturer, will dismiss 200 out of 1,800 workers employed at the company due to the COVID-19 crisis. The redundancies include operational and managerial positions and will be carried out by the end of July 2020. The main reason for the restructuring is the decline in orders from leading car manufacturers. In addition to the workforce reduction, the company considers wage cuts to cope with the economic challenges.
AGC Automotive Czech is one of the largest manufacturers of car windows in Europe with an annual production of more than 32 million pieces. The company is a subsidiary of the Japanese AGC Group, which supplies car windows to all large car manufacturers such as Mercedes, Volkswagen, BMW, Škoda Auto, GM, FORD, Renault, Toyota, Peugeot, Citroën, Suzuki and Fiat.
Japanese AGC Group, a world leader in the production of flat glass, has 200 companies in more than 30 countries, employing over 50,000 people worldwide.
Eurofound (2020), AGC Automotive Czech, Internal restructuring in Czechia, factsheet number 101280, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/101280.