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
300 jobs Number of planned job losses
Announcement Date
26 November 2008
Employment effect (start)
Foreseen end date
31 December 2008
Description
Cadence Innovation, a manufacturer of molded plastic components for the global automotive industry, has announced up to 300 job cuts by the end of 2008 due to the global financial crisis.
With a total workforce of more than 4,200, Cadence Innovation operates 17 facilities in the United States and the Czech Republic. The company employs 2,300 people in three Czech manufacturing plants - Liberec, Libáň, Nymburk.
Sources
26 December 2008: Hospodárske noviny
Citation
Eurofound (2008), Cadence Innovation, Internal restructuring in Czechia, factsheet number 67540, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/67540.
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