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.
Sklo Bohemia, a Czech glass producer, has announced the closure of the plant in Světlá nad Sázavou due to the CZK 3 billion financial loss of the mother group Bohemia Crystalex Trading. All 1,200 workers will be dismissed and are facing an uncertain future. Employees are also afraid that they may not receive their September wages. Czech glass-porcelain industry has nowadays serious difficulties across the whole country and about 6,000 people may lose their jobs. On 2 October 2008, the government decided to release CZK 4 million as a compensation package for the most affected regions. State subsidies are offered to retrain redundant workers.
See also EIRO article, www.eurofound.europa.eu/eiro/2008/11/articles/cz0811029i.htm
Eurofound (2008), Sklo Bohemia, Closure in Czechia, factsheet number 67151, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/67151.