OKD to close Paskov by end-March
The hard coal mining company OKD will terminate mining at its Paskov mine in the Frýdek-Místek district, northern Moravia, by the end of March, 2017. Around 700 miners are set to lose their jobs as a result of the closure. The rest of the employees will be moved to other mines that are still in operation. OKD, which employs some 12,000 people altogether, faces severe financial difficulties and filed for insolvency in March of this year.