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.
Zetor Tractors, a traditional Czech manufacturer of tractors, is to cut between 100 and 260 jobs due to economic problems by the end of March 2019. If the maximum number of jobs is cut, it will roughly account for 40 percent of the company's current workforce. The job losses will concern 131 office workers, 12 managers, 53 maintenance and control workers and 64 blue-collar workers. The main reason is the fall in sales and cheaper foreign competition.
Update 2/4/2019: Zetor dismissed 145 workers, which is 115 less than announced in December 2018. According to the company's director, cost savings were found in other areas and the original plan was revised. The trade union said they originally demanded a 5.5 percent increase in wages, but management said it could not guarantee more than two percent, the final agreement envisages a wage increase of 600 crowns which is a 2 percent increase in wages.
Eurofound (2018), Zetor Tractors, Internal restructuring in Czechia, factsheet number 96224, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/96224.
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