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.
ČD Cargo, a Czech freight rail carrier, is to dismiss 450 workers by the end of 2012 and is considering up to 2,200 redundancies in 2013.
The restructuring plan for 2013 is yet to be discussed with the trade union and to be approved by the General Meeting. Redundancies are associated with a loss amounting to over CZK 230 million (EUR 9.2 million) in 2012. According to media reports, the company is on the brink of insolvency.
Currently, the firm employs roughly 9,500 people.
Eurofound (2012), ČD Cargo, Internal restructuring in Czechia, factsheet number 74624, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/74624.