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 Of Coke And Refined Petroleum Products Manufacture Of Coke And Refined Petroleum Products 19.2 - Manufacture of refined petroleum products
60 jobs Number of planned job losses
Announcement Date
3 July 2012
Employment effect (start)
Foreseen end date
Description
Paramo, a Czech refinery based in Pardubice, is to cut 60 jobs (i.e. 10% of the staff). The owner of the plants, Unipetrol, decided to stop process crude oil because of an unfavourable financial situation in the country, low margins and weak demand for oil.
Paramo will continue to produce oil, lubricants and asphalts from semi-finished products of other refineries. The company also declared help for the laid-off employees with finding new jobs in the Pardubice region where the unemployment rate reached 7.5 % at the end of May 2012.
The timeline for the restructuring is not specified.
Sources
3 July 2012: Právo
Citation
Eurofound (2012), Paramo, Internal restructuring in Czechia, factsheet number 73888, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/73888.
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