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.
Česky Telecom a.s., the largest provider of telecommunication services in the Czech Republic and one of the prominent telecommunication companies in Central Europe, has been undergoing a large restructuring process since the end of 2003. In 2004 the company reduced the personnel by 2,100 employees and considers to cut gradually the current staff from 8,800 to 7,000 before the end of 2005, involving mainly low-skilled workers.
Redundancy payments are much higher than the statutory ones and amount to 6 — 10 monthly salaries depending on the length of employment.
Eurofound (2005), Český telecom a.s., Internal restructuring in Czechia, factsheet number 61019, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/61019.
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