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.
Mining / Quarrying Mining And Quarrying Extraction Of Crude Petroleum And Natural Gas 06 - Extraction of crude petroleum and natural gas
100 - 140 jobs Number of planned job losses
Announcement Date
25 May 2020
Employment effect (start)
Foreseen end date
31 December 2020
Description
Moravské naftové doly (MND), the largest oil and gas extraction company in the Czech Republic, has announced an internal restructuring entailing up to 140 redundancies out of the total of about 900 employees.
The main reasons of the company-crisis are related to the sharp decline in oil prices on world markets caused by the COVID-19 outbreak. MND has already entered into the state-subsidised program to cushion the social and economic effects of the pandemic, that currently supports 75 employees.
MND is a Czech oil and gas producing company operating gas and oil fields in a plurality of countries, encompassing Pakistan, Yemen, and Georgia.
Eurofound (2020), Moravské naftové doly (MND), Internal restructuring in Czechia, factsheet number 100771, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/100771.
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