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.
OP Prostějov, the largest Czech textile company, closed two plants (Konice, Brodek u Konice) at the end of October 2006. All 290 workers were given the option to commute to the main factory located in Prostějov. A half of them accepted this possibility and will get travel subsidy of CZK 600 per month. There is a great demand for qualified labour force. The finished clothes producer currently employs 5,000 people in its six manufacturing shops and is looking for needlewomen, tailors and dressmakers. The main reasons of the closure are the invasion of cheap textile products from Asia, the rise in minimum wage and energy prices and the change of currency exchange rate as well.
Eurofound (2006), OP Prostějov, Closure in Czechia, factsheet number 64353, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/64353.