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.
Metallurgical company Válcovny plechu (Strip mill) in Frýdek-Místek intends to close one of its shops, a hot-rolling mill, by the end ot 2005. Restructuring operation implies 150 job losses. Trade unions are strongly against this decision and argue that the shop is profit-making. Unionists'fears are based also on a very bad labour market situation in the region having one of the highest unemployment rate (12,4%). According to the company personnel management, any major social impacts are not to be expected because lay-off workers should be granted a compensation amounting up to 10 average monthly wages.
Eurofound (2005), Válcovny plechu, a.s. Frýdek-Místek, Internal restructuring in Czechia, factsheet number 62106, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/62106.