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.
Sokolovská uhelná (SUAS), the smallest brown coal mining company in the Czech Republic, is starting a gradual attenuation of coal mining and planning 1,000 job cuts within the next two years. SUAS is to dismiss about 700 people in 2020 and about 300 in the following year. The restructuring is motivated by the increasing price of emission allowances due to political and environmental pressure to lower harmful emissions caused by mining production and coal flaming. SUAS will pay about CZK 1.4 billion (€54.8 million as at 15 December 2019) to the state budget on emission permits this year,and about CZK 1.5 billion (€58.8 million) in 2021. The company is ready to actively help people with job search by offering alternative vacancies, career and economic counselling.
Currently, SUAS employs around 3,000 people at its plant and around 700 in subsidiaries.
Eurofound (2019), Sokolovská uhelná (SUAS), Internal restructuring in Czechia, factsheet number 99156, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/99156.