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 national air carrier Czech Airlines (ČSA) is to cut 280 jobs out of its 4,200 current staff in coming next months (no exact timeline is given) under a recovery plan that should save over one billion CZK on wages. The restructuring will affect mainly employees in administrative positions (190 posts). About 15 pilots and 70 stewards and hostesses will be left to go. The workforce reduction is to continue and a further 500 people are expected to be dismissed in the long run. All laid-off workers will be given severance pay above statutory amount. The Czech Airlines made a CZK 3.7 billion loss last year and then decided to cut its aircraft fleet by one third.
On 26 January 2011, Czech Airlines reported that 70 pilots out of a total 430 across the company (i.e. more than 15%) have been dismissed.
Eurofound (2010), ČSA (Czech Airlines), Internal restructuring in Czechia, factsheet number 71214, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/71214.