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 Of Computer, Electrical Electronic And Optical Products Manufacture Of Computer, Electronic And Optical Products 26.11 - Manufacture of electronic components
615 jobs Number of planned job losses
Announcement Date
1 November 2012
Employment effect (start)
Foreseen end date
31 December 2012
Description
Panasonic, a Japanese consumer electronics manufacturer, has announced the closure of its Czech facility for LCD panel manufacture and the dismissal of all 615 employees by the end of 2012, due to financial difficulties and low sales.
The plant, located in the Triangle industrial zone near the city of Žatec, was opened in 2007. Panasonic faces heavy losses worldwide (9.6 billion USD during fiscal year ending in March 2013). Mass dismissals have negatively affected the region, which has one the highest unemployment rates in the Czech Republic (13.2%).
Sources
1 November 2012: Hospodárske noviny
Citation
Eurofound (2012), Panasonic, Closure in Czechia, factsheet number 74416, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/74416.
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