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.
The largest Czech aircraft manufacturer Aero Vodochody has announced plans to dismiss 200 people, about 10% of its entire existing workforce. The reason is the loss of a significant supply contract of cockpits for UH-60M Black Hawk helicopters, which was cancelled by the US arms factory Sikorsky. The layoffs are also related to the overall change in production orientation. Under the new Italian management, Aero has been focusing on its own aircraft production project, mainly the L-39NG, for the third year. The supply shortage for Sikorsky will mean a sales slump of around CZK half a billion (€19.3 million).
Previous restructurings took place in 2016 (250 jobs created) and 2014 (300 jobs created).
Eurofound (2019), Aero Vodochody, Internal restructuring in Czechia, factsheet number 96628, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/96628.