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.
Furniture manufacturer Jitona will dismiss180 employees by the end of October 2019 at its two sites (Klatovy, Třebíč) due to the termination of cooperation with its main customer, Ikea. The company will help redundant employees to find a new job amd has prepared a workshop to present potential vacancies in other companies in the region. In 2018, Jitona had a net turnover of CZK 643 million (€25 million) but ended with a loss of CZK 6.5 million (€250,000). The non -renewal of orders stems from the low market demand of veneered furniture in which the factory is specialised, and the increase in production costs.
At the Klatovy site Jitona will continue to produce small-series furniture for some foreign customers. The loss of Ikea's orders cannot be quickly replaced since Ikea was the only customer commissioning large orders.
Eurofound (2019), Jitona, Internal restructuring in Czechia, factsheet number 98278, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/98278.