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.
Manufacturing Manufacture For Transport Equipment Manufacture Of Other Transport Equipment 30.30 - Manufacture of air and spacecraft and related machinery
200 jobs Number of planned job losses
Announcement Date
28 May 2020
Employment effect (start)
1 June 2020
Foreseen end date
Description
Honeywell Aerospace Olomouc, the Czech-based manufacturer and repairer of aircraft engines, is to cut 200 jobs across all its departments, due to the effects of the COVID-19 pandemic on the aviation industry.
In order to cope with the crisis, the company offered the Czech government, in April 2020, to convert its production into personal protective equipment, with an estimated capacity of five million of pieces in four months. The project, anyway, has not yet been launched and, therefore, the management started an internal restructuring program.
According to the chairwoman of the internal trade union, redundant people across all job positions will get above-standard severance condition. In particular, those with a company seniority of more than two years, will receive a six-month salary.
Honeywell Aerospace Olomouc is a Czech branch of the US group Honeywell International Inc., a multinational conglomerate that employs approximately 130,000 people worldwide.
Digitisation and automation technologies, including artificial intelligence (AI), can affect working conditions in a variety of ways and their use in the workplace raises a host of new ethical concerns.
The retail banking sector is fertile ground for studying the impacts of digitalisation on work and employment. Financial services are increasingly provided online, without the intermediary of customer-facing institutions.
European labour markets have recovered strongly from COVID-19. By the end of 2021, little more than 18 months after the start of the pandemic, employment rates in the EU were almost at pre-crisis levels.
