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.
The Czech glass producer Crystalite Bohemia is to dismiss over 100 workers within three to four months due to a lack of demand from Iran. The factory, which currently employs over 700 people and is an important employer in Světlá nad Sázavou, is focused on the line production of beverage and decorative glass. The loss was basically triggered by sanctions against Iran, which was the largest market for this kind of goods.
The sanctions started in the middle of 2018. According to the Ministry of Labour, unemployment rate in the city of Světlá nad Sázavou was 2.6 percent in March 2019.
UPDATE 11/07/2019: The company announced that the total number of redundancies will be 180.
Eurofound (2019), Crystalite Bohemia, Internal restructuring in Czechia, factsheet number 97607, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/97607.