Type
Internal restructuring
Country
Czechia
Region
Severovychod; Pardubicky;
Location of affected unit(s)
Pardubice
Sector
Manufacturing
Manufacture Of Coke And Refined Petroleum Products
Manufacture Of Coke And Refined Petroleum Products
19.2 - Manufacture of refined petroleum products

60 jobs
Number of planned job losses
Job loss
Announcement Date
3 July 2012
Employment effect (start)
Foreseen end date

Description

Paramo, a Czech refinery based in Pardubice, is to cut 60 jobs (i.e. 10% of the staff). The owner of the plants, Unipetrol, decided to stop process crude oil because of an unfavourable financial situation in the country, low margins and weak demand for oil.

Paramo will continue to produce oil, lubricants and asphalts from semi-finished products of other refineries. The company also declared help for the laid-off employees with finding new jobs in the Pardubice region where the unemployment rate reached 7.5 % at the end of May 2012.

The timeline for the restructuring is not specified.


Sources

  • 3 July 2012: Pr├ívo

Citation

Eurofound (2012), Paramo, Internal restructuring in Czechia, factsheet number 73888, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/73888.