Škoda Auto, the Czech Republic’s trademark car company, is being forced to downsize its operations in reaction to a shortage in semiconductors stemming from the COVID-19 restrictions. Auto sales collapsed during the beginning of lockdown in 2020, leading to a gridlock in orders for car-related semiconductors. As demand for cars recovers, supply chains are having trouble revamping themselves. In an interview with iHNED.cz, Michael Oeljeklaus, head of production and logistics at Škoda, said that the company is producing 3,000-5,000 fewer cars than what they’re capable of, and some cars that are being produced can’t be finished due to lack of parts. According to him, by early August the company will have produced roughly 50,000 incomplete vehicles that will sit idleContinue Reading

The COVID-19 restrictions have put more cash into the average Czech’s savings account, and subsequently spilled into real estate, Novinky reports. According to new data from Českého statistického úřadu (Czech Statistical Office), household savings grew in 2020 by 217.1 billion crowns. The Czech National Bank can also confirm that the amount of deposits exceeded three trillion crowns, whereas in December of 2019, the bank recorded 2.72 trillion crowns of deposits. “Household consumption was very limited because of the various restrictions, including the mandatory home office and closed businesses. It was absolutely to be expected that, thanks to this stall in consumption, Czechs would increase their savings,” Petr Zámečník, an analyst at EMA data. According to a study done by theContinue Reading

Usually, hotels, restaurants, and campsites have no problem finding young part-time workers to prepare for summer traffic each year. According to a report by iDNES, this year is a bit different, forcing many small businesses to rethink their plans for summer. Tomáš Holec, the manager of the Komorník Campsite in Jindřichův Hradec, says that he’s decided to shut down a restaurant at the site and just do window service. According to him, it’s impossible to find people willing to work as waiters. “Since we couldn’t find the required number of people, we had to shut down regular service. There are no waiters in the restaurant, we just have a window. So because of that, we don’t have to look forContinue Reading