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.
The Czech company TON, which produces bentwood furniture, has announced 93 job cuts out of the 600 staff by the end of June 2023. The dismissals will affect both administrative and production positions. The main reason for the layoff of staff is the increasing costs and a decline in new orders from the Czech Republic and abroad. In the last few months, energy and raw materials prices have increased significantly. According to CEO Milan Dostalík, the introduction of short-time working (Kurzarbeit) would alleviate the imminent wave of layoffs across the industry.
Eurofound (2023), TON, Internal restructuring in Czechia, factsheet number 109071, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/109071.