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.
Czech coal mining firm Severoceske Doly (SD), owned by CEZ, has announced that it will make 350 people redundant by the end of 2014 due to increasing energy and maintenance costs. The dismissals will affect two mines at Kadan (Tusimice) and Bilina. The Board of Directors approved the organizational changes at its meeting at the end of August 2014 as part of reducing the company's costs by 17%. At the end of 2013, SD employed 3,257 people in the two coal mines and a further 2,000 in its subsidiaries.
Updated, 15-12-2014: As reported, SD is to make redundant 231 people by the end of 2014. The company currently employs 2,923 staff.
Eurofound (2014), Severoceske Doly (SD), Internal restructuring in Czechia, factsheet number 77641, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/77641.