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.
Latecoere Czech Republic, local subsidiary of the French aviation component manufacturer, which produces aircraft doors at the Prague site, began layoffs due to a lack of orders caused by the COVID-19 crisis. At the end of May, a total of 212 permanent workers (almost a third of the staff) lost their jobs. In addition, the company had to lay off 60 agency workers in March. The main customers of the Prague plant are the aircraft manufacturers Airbus and Boeing. Orders from Airbus fell by 40 to 50 per cent, those from Boeing stopped completely. The mass redundancies at Latecoere may not be the last.
Eurofound (2020), Latecoere Czech Republic, Internal restructuring in Czechia, factsheet number 101111, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/101111.