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 Manufacturing Of Machinery And Equipment Manufacture Of Machinery And Equipment N.E.C. 28 - Manufacture Of Machinery And Equipment N.E.C.
160 jobs Number of planned job losses
Announcement Date
27 February 2024
Employment effect (start)
1 March 2024
Foreseen end date
31 May 2024
Description
The Finnish company Metso, a provider of technologies and services for the aggregates, minerals processing and metals refining industries, has decided to discontinue its foundry operations in Přerov in the Czech Republic during the second quarter of 2024. The layoffs will affect approximately 160 employees who work in production.
According to Metso, fundamental changes in the market environment have had a negative effect on the foundry's competitiveness. Due to the Russian invasion of Ukraine and the subsequent sanctions, the foundry ceased deliveries to the Russian market, which was one of the main outlets. The rising prices of electricity and gas as well as input raw materials also had a negative impact.
Globally, the company, based in Espoo, Finland, employs more than 17,000 people in almost 50 countries and its sales for the year 2023 amounted to approximately 5.4 billion euros.
Eurofound (2024), Metso, Closure in Czechia, factsheet number 200889, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/200889.
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