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.
TWR Volant is to cut 150 jobs due to the closure of the site producing steering wheels by the end of 2013. The global automotive parts producer TWR Automotive has decided to move the production to Rumania because of the lower labour costs. According to the Chairman of the Union Kovo, Josef Středula, the decision to close the plant was unexpected.
TWR Automotive has 6 other manufacturing sites in the Czech Republic and globally employs some 70,000 people in 200 plants.
Eurofound (2013), TWR Volant, Offshoring/Delocalisation in Czechia, factsheet number 75993, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/75993.