Restructuring events
European Restructuring Monitor (ERM)
The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
The Hungarian state postal services company, Magyar Posta, has announcet a plan to lay off 1,200 employees, which amounts to 5% of its total workforce. The layoff affects every area of the company's activity, except for postal delivery. There is still no information about how many workers by region and field will be affected.
A smaller layoff was announced in October 2022 (HU-Magyar Posta-4) but in January 2023 a newly appointed management delayed it until further notice.
Two trade unions have deplored the fact that they were not given prior notice and were informed about the dismissals only from media reports. The Independent Advocacy Alliance of Postal Workers (POFÉSZ) and the Trade Union of Delivery Workers (KESZ) – refused to sign the three-year wage agreement in 2021 because they were against the long-term fixing of the wage hike rates amid an uncertain, inflationary environment. Since then, the management has refused to involve these unions in the negotiations. The above-mentioned wage agreement is now under renegotiation, due to the record-level inflation.
The present layoff was explained by rising energy costs, similar to the previous announcement in October. To reduce costs, the firm has already closed more than 300 post offices and initiated a partner program under which local stores, bank branches and food service venues take over some basic postal services like cheque payment or mail and packet dispatch.
Eurofound (2023), Magyar Posta, Internal restructuring in Hungary, factsheet number 108661, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/108661.
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