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, a traditional Czech clothing producer, announced 417 job cuts due to the unfavourable CZK exchange rate, increases in energy prices and competition from Asia. The firm will close two manufacturing sites in Olomouc (207 job losses) and in Uherské Hradiště (50 job losses) by the end of June 2008. About 160 people out of 3,000 staff will be also dismissed in the parent plant in Prostějov. The company's management has negotiated notice entitlement with trade union. Workers will be offered severance pay amounting to up to 4 average month wages.
Eurofound (2008), OP Prostějov, Internal restructuring in Czechia, factsheet number 66742, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/66742.