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.
Mining / Quarrying Mining And Quarrying Mining Of Coal And Lignite 05 - Mining of coal and lignite
300 jobs Number of planned job losses
Announcement Date
15 September 2014
Employment effect (start)
1 October 2014
Foreseen end date
31 March 2015
Description
Czech coal mining company OKD will make redundant around 250 people in the last quarter of 2014 and the first quarter of 2015 due to the adverse economic situation and the low prices for coal. The restructuring plan will involve the consolidation of mining at currently separate sites by interconnecting them. OKD operates four big mines in the Czech Republic employing over 11,000. It continues to reduce its staff numbers by about 50 people a month due to natural wastage.
Update 14 October 2014. The newspaper reported that Czech coal mining company OKD will make redundant 300 people by the end of 2014 in order to maintain market competitiveness. The laid-off workers will be given severance pay amounting to six monthly wages. The company also offers assistance in finding new jobs or starting up own business.
Sources
15 September 2014: Investiční noviny
14 October 2014: Právo
Citation
Eurofound (2014), OKD, Internal restructuring in Czechia, factsheet number 77645, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/77645.
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