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.
Used car retailer AAA Auto announced that it will create 270 new jobs in three European countries where it operates. The restructuring is the result of recent high sales after the COVID-19 crisis and the plan to internationally expand business.
Under the business expansion, AAA Auto is to hire 183 employees in the Czech Republic, 25 in Slovakia, and 62 in Poland. The company is recruiting accounting and administrative staff as well as call centre operators, car dealers, financial product intermediaries and car preparation staff. The company is to strengthen its sales network after the reopening of its branches. Additionally, AAA Auto plans to open new branches in Poland and online sales through the start-up Driverama which will operate in Western Europe.
The company is a subsidiary of AURES Holding, which is the largest automotive company in the field of used car buying, selling, financing, insurance, and upscale services in Central and Eastern Europe. Currently, the group employs over 2,400 people in Europe; it has almost 50 branches in the Czech Republic, Slovakia, Poland, and Hungary.
Eurofound (2021), AAA Auto, Business expansion in European Union, factsheet number 105056, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/105056.