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.
Pharmaceuticals producer Baxter BioScience is to close down its manufacturing plant in Bohumil-Jevany near Prague, resulting in 275 job losses by the end of February 2014.
This is due to the termination of the company’s vaccine production at the plant. The company announced that it will focus on its core activities, particularly on blood plasma products.
The firm intends to offer some workers an internal relocation. Furthermore, it will offer job search services for external jobs. In addition to a statutory compensation, the redundant workers will be given a voluntary severance pay on the basis of seniority.
Baxter BioScience is a subsidiary of the multinational pharmaceutical company Baxter International which employs 51,000 people worldwide.
Eurofound (2014), Baxter BioScience, Closure in Czechia, factsheet number 76521, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/76521.
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