Jobs to be cut by 32.3 pct of Czech industrial firms - analysis

Some 32.3 percent of Czech industrial firms intend to cut jobs at an average rate of 11.5 percent, while 13.6 percent want to make use of higher-quality workers being on the market again and raise their headcount by 5.9 percent, the National Centre for Industry 4.0 said.

Some 54.1 percent of companies are not going to reduce their staff numbers just yet, an analysis carried out by the centre shows. "Most employers are doing their best so that they do not have to cut jobs," Czech Confederation of Industry vice-president Radek Spicar said. "Businesses do not want to throw their employees overboard," he said, adding that "they know every crisis will pass one day and once it does, it will be very difficult to hire quality staff."

As many as 54.5 percent of industrial firms are currently addressing drops in orders, the analysis shows. Some 36.4 percent have seen no changes in order levels, while only 9.1 percent have posted annual hikes. Falling orders have been mostly reported by small and medium-sized enterprises, according to the analysis.

The analysis is based on data collected during 253 interviews with key representatives of selected Czech industrial firms between June and August. The analysis was carried out by the National Centre for Industry 4.0 ahead of a national industrial summit to take place in Prague on September 9 and to be attended by Prime Minister Andrej Babis, among others. The National Centre for Industry 4.0 forms part of the Czech Institute of Informatics, Robotics and Cybernetics at the Czech Technical University in Prague.

Source: ČTK