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.
Manufacturing Manufacture For Transport Equipment Manufacture Of Motor Vehicles, Trailers And Semi-Trailers 29.1 - Manufacture of motor vehicles
500 jobs Number of planned job creations
Announcement Date
26 March 2010
Employment effect (start)
1 April 2010
Foreseen end date
Description
The Czech truck maker Tatra has announced that it will re-employ approximately 500 people who were laid off last year due to a fall in sales of 45 percent (see related fact sheet No 14466). The firm faces a serious financial loss and still owes the bank one billion CZK. Shareholders have agreed to pledge the entire company's assets as a bank guarantee. Consequently, the company is to restore the full production as of 1 April 2010.
Sources
26 March 2010: Finanční noviny
Citation
Eurofound (2010), Tatra, Business expansion in Czechia, factsheet number 70367, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/70367.
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