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.
Flextronics International Ltd., the world's largest manufacturer of custom-made electronics, announced a mass redundancy of 590 employees in one of its four Hungarian plants. The dismissals in Nyíregyháza, North-east of Hungary, are a result of the seasonal cycle of production and the losing of a major client.
About 2,000 permanent and temporary employees currently work at the Nyíregyháza's site. The regional employment centre and the city local government have been informed of the lay-offs, which will take effect from January, 2007. The dismissals are likely to affect skilled and semi-skilled workers, as well as engineers and highly qualified professionals.
Only after negotiations with the employee representatives and the works council it will be determined who will be dismissed and on what terms. Flextronics' HR Director for Eastern Europe announced that they plan to offer jobs for dismissed employees at other Hungarian sites. According to announcement at the end of December the number of those dismissed from January 2007 will be 600. Since its opening, the factory followed seasonal cycles of production but its workforce has always been above 1,000, which was guaranteed at the time of its establishment. The latest lay-offs will reduce the workforce of the site to 1,500.
Eurofound (2006), Flextronics, Internal restructuring in Hungary, factsheet number 64480, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/64480.
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