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 Material For Textiles, Apparel, Leather And Related Products Manufacture Of Textiles 13.99 - Manufacture of other textiles n.e.c.
120 jobs Number of planned job losses
Announcement Date
3 June 2016
Employment effect (start)
Foreseen end date
31 December 2016
Description
The textile company Veba Broumov has announced that it will cut 120 jobs by the end of 2016 due to the crisis in the African market. After six years of profit and record sales, the company had fallen into a loss during 2015 with over 300 dismissals. The average number of employees dropped last year by 11% to 1,117. The main product of the company is cotton brocade which Veba developed specifically for the African market.
Sources
3 June 2016: Deník
Citation
Eurofound (2016), Veba Broumov, Internal restructuring in Czechia, factsheet number 88012, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/88012.
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