Veba Broumov

Type
Internal restructuring
Country
Czechia
Region
Česko; Severovýchod; Královéhradecký kraj
Location of affected unit(s)
Broumov
Sector
Manufacturing
(13 - 15) Manufacture of textiles, apparel and leather
13.9 - Manufacture of other textiles
13.99 - Manufacture of other textiles n.e.c.
120 jobs
Number of planned job losses
Job loss
Announcement Date
3 June 2016
Employment effect (start)
Foreseen end date
31 December 2016

Description

The textile company Veba Broumov has announced that it will cut 120 jobs by the end of 2016 due to the crisis in the African market. After six years of profit and record sales, the company had fallen into a loss during 2015 with over 300 dismissals. The average number of employees dropped last year by 11% to 1,117. The main product of the company is cotton brocade which Veba developed specifically for the African market.

Sources

  • 3 June 2016: Deník

Citation

Eurofound (2016), Veba Broumov, Internal restructuring in Czechia, factsheet number 88012, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/88012.