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.
As a result of the ongoing global economic crisis affecting the automotive industry, Epcos Elektronikai Alkatrész Kft., the Hungarian subsidiary of Epcos, announced the mass redundancy of 150 employees, reducing the plant's headcount to 1,300. The restructuring process was initiated in January and workers, who were notified at the beginning of February, are to be dismissed in April. The measure comes in accordance with the company's worldwide restructuring aimed to reduce costs, which caused the dismissal of 4,100 workers in total out of its 21,000 workforce globally.
Epcos is a global market leader in developing, manufacturing and marketing electronic components, modules and systems, such as capacitors, inductors and ceramic components of electrical devices mainly for the automotive industry.
The Hungarian facility in Szombathely (Vas County) was founded in 1994. By 2007 the company was working in a 5000-square meter plant, which was subsequently enlarged with a new 1800-square meter production hall costing EUR 1,8 million.
Eurofound (2009), Epcos Elektrónikai Alkatrész, Internal restructuring in Hungary, factsheet number 68799, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/68799.
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