Czech hard coal miner New World Resources’ OKD unit wants to lay off half of its employees within the next two years. Although the move is not unexpected and the Czech government has been debating ways of softening its social impact, the lay-offs will present a serious problem in a region with a 19.2 percent unemployment rate.
The company Jan Becher- Karlovarská Becherovka which produces the famous Czech herbal liquor Becherovka created in 1807 has received close to one hundred million crowns in compensation for losses suffered during the government-enforced prohibition in 2012. No other company on the market received compensation.
Public tenders are one of the biggest business opportunities in the Czech Republic, and over recent years have been one of the most fraught. It’s estimated that the total Czech market for local councils, regions, state bodies and authorities for goods and services is worth an annual 600 billion crowns. And it’s now just big firms that rely on the work for a substantial part of the turnover, it’s also a lifeline for many small and mid-sized companies as well.
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