EMCC European Monitoring Centre on Change

ČD Cargo

Company/Organisation:
ČD Cargo

Geographic Location

Country: Czechia

Company

Sector: Transportation / storage
Transportation and storage
49.2 - Freight rail transport
Number Employed: 9500

Employment Effects

Announcement Date: 11-12-2012
Planned Job Reductions min: 450
Planned Job Reductions max: 500
Type of Restructuring: Internal restructuring
Foreseen End Date: 31-12-2012

Additional Information

ČD Cargo, a Czech freight rail carrier, is to dismiss 450 workers by the end of 2012 and is considering up to 2,200 redundancies in 2013.

The restructuring plan for 2013 is yet to be discussed with the trade union and to be approved by the General Meeting. Redundancies are associated with a loss amounting to over CZK 230 million (EUR 9.2 million) in 2012. According to media reports, the company is on the brink of insolvency.

Currently, the firm employs roughly 9,500 people.