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.
ŽDB Group, a Czech metallurgical company located in Bohumín, has closed its rolling mill and will dismiss all 160 workers due to a financial loss amounting to CZK 360 million (EUR 14.4 million) over the past couple of years. The redundany procedure is expected to be concluded by March 2012. Currently, the firm employs a total of 2,175 workers.
Trade unions have maintained strike readiness since the end of October in order to fulfill collective agreement. The management of the company has announced its plan to divide the whole group into various independent units as of January 2012.
Eurofound (2011), ŽDB Group, Closure in Czechia, factsheet number 72757, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/72757.