Vítkovice Engineering lay off over 550 employees

One of the Czech Republic’s flagship engineering companies, Vítkovice Engineering, has let go more than 550 employees, general director Bohuslav Fajmon told the Czech News Agency on Thursday. Many of the employees have reacted by handing in their notice on the grounds of not receiving their wages since January this year.

The company, which employs around 600 people in and around Ostrava, filed for insolvency proceedings earlier this month.

Vítkovice Engineering appeared to be lined up for a lifeline from the arms company of Czech businessman Jaroslav Strnad. However, he later decided to invest in another part of the Vítkovice Group, Vítkovice Heavy Engineering.

Author: Ruth Fraňková