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.
Škoda Auto, a Czech carmaker, subsidiary of Volkswagen Group, is to cut 200 jobs at its plant located in Vrchlabí by the end of 2012. This is due to termination of the Roomster and Octavia assembly.
Employees concerned are offered the opportunity to work in other Škoda factories (Mladá Boleslav, Kvasiny) or to leave with severance pay representing up to 30 average salaries (more than 960,000 CZK) for those close to retirement. It was stated that the majority of employees will choose the generous severance pay.
At the beginning of 2012, Škoda employed 25,800 people, the highest number in the company’s history. Last year, the firm created 1,650 new jobs.
Eurofound (2012), Škoda Auto, Internal restructuring in Czechia, factsheet number 74319, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/74319.