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 Motor Vehicles, Trailers And Semi-Trailers 29.3 - Manufacture of parts and accessories for motor vehicles
550 jobs Number of planned job losses
Announcement Date
20 November 2008
Employment effect (start)
20 November 2008
Foreseen end date
28 February 2009
Description
Visteon-Autopal Nový Jičín, a subsidiary of an American car lighting and climate systems producer, has announced 550 job cuts from a total 2,500 due to the global financial crisis. The reduction of 250 jobs (especially manual workers) is expected to occur by 31 January 2009 and additional 300 job cuts are to be implemented by 28 February 2009. The workers who are leaving the company in November and December 2008 will receive severance pay amounting to 6 average monthly wages. The workers who will leave the plant in January 2009 will be given severance pay amounting to 5 average monthly wages.
Sources
20 November 2008: Právo
Citation
Eurofound (2008), Visteon Autopal Nový Jičín, Internal restructuring in Czechia, factsheet number 67417, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/67417.
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