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.
Financial Services Activities Auxiliary To Financial Services And Insurance Activities Activities Auxiliary To Financial Services And Insurance Activities 66.1 - Activities auxiliary to financial services, except insurance and pension funding
100 jobs Number of planned job losses
Announcement Date
14 November 2008
Employment effect (start)
1 November 2008
Foreseen end date
30 November 2008
Description
Home Credit, a non-banking consumer credit provider, has announced 10 % staff cuts (i.e. about 100 job losses) to be implemented in the Czech Republic by the end of November 2008 due to the global financial crisis.
Home Credit is owned by the PPF international group and it also operates in Byelorussia, China, Kazakhstan, Slovakia, Russia, Ukraine, and Vietnam. It was reported that the firm has already cut about 1,000 jobs out of 19,000 staff worldwide. The largest job cut is expected to occur in Russia (2,000 job losses).
Sources
14 November 2008: Hospodárske noviny
Citation
Eurofound (2008), Home Credit, Internal restructuring in Czechia, factsheet number 67416, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/67416.
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