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.
Czech Airlines (ČSA) has launched a saving plan and plans job reductions in order to cut wage costs and restore last year financial loss of almost a half billion CZK. On 14 June 2006 the company announced it would cut from 10 to 20 percent jobs (that is 550 to 1,100 people), mostly in administration.
A new company's announcement on 23 August 2006 stated that one fifth to one fourth of the current staff would quit the company (from 1100 to 1375 people) by the end of 2006. About 50 of 195 currently employed managers are to be affected. The severance payment offered amounts up to 10 average wages.
Eurofound (2006), České aerolinie (ČSA), Internal restructuring in Czechia, factsheet number 63627, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/63627.
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