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.
Telefonica Czech Republic, one of the major telecommunications service providers, has announced that another wave of up to 500 layoffs is due to take place in spring 2013.
Downsizing will affect the whole company, but the marketing division will suffer the most dismissals. According to reports, mostly white-collar employees, including directors, will be made redundant.
Telefonica currently employs around 5,800 people, roughly 2,000 employees less than three years ago. This is the second wave of job cuts announced this year, as 300 employees were dismissed in the first quarter of 2012. According to the company, they are not considering further job cuts in the near future.
Eurofound (2012), Telefonica Czech Republic, Internal restructuring in Czechia, factsheet number 74443, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/74443.