Hospodářské noviny: one fifth of Czech firms planning redundancies

Research conducted for the newspaper Hospodářské noviny suggests that one in five Czech firms are considering job-cuts in light of the current financial crisis. The research was conducted by the Czech Chamber of Commerce and set out to gauge the effects of the current global economic turmoil on the Czech Republic. It found that half of the firms questioned were feeling the pinch caused by the worldwide financial crisis. Some 264 of the companies questioned said that they were planning redundancies. A spokesperson for the Chamber of Commerce said that the situation would improve, however, if the banking sector changed its approach when dealing with businesses.

Author: Rosie Johnston