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.
Panasonic AVC Networks Czech, a Czech subsidiary of the Japanese electronics company, is to lay off over 900 people at its Pilsen plant by the end of March 2022. The redundancies will concern people from the production of televisions: about 450 permanent employees out of the 750 core staff and almost 500 agency workers, who should gradually leave the company by the same date. The production of televisions is being transferred to an external company. The factory will continue to operate with about 300 to 370 people involved in the production of heat pumps, blu-ray players and recording devices.
Panasonic will end production of televisions due to the reduced demand for TVs, which has been evident for several years. The current lack of chips could also play a role.
The company has been operating in Pilsen since 1997.
Eurofound (2021), Panasonic AVC Networks Czech, Internal restructuring in Czechia, factsheet number 105445, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/105445.
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