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.
Grundfos Hungária Kft, a producer of electric motors and pumps, is to lay off 200 Hungarian workers from September. The Danish owned company, with headquarters in Bjerringbro, has three plants in Hungary: two in Tatabánya (Komárom-Esztergom county) and one in Székesfehérvár (Fejér county). Mass redundancy will affect all of its production facilities equally.
Grundfos initiated a shorter 32 hour working week from 1 March 2009, and obtained governmental subsidy of HUF 183 million (EUR 665,000) to pay off 80% of the wage loss of 1500 workers, resulting from the shorter work time. From 1 June the company changed to a 36 hour working week, which will be maintained until the end of August. The company also stopped hiring new employees, and stopped the renewal of expired contracts, reducing the employment level from 2000 to 1860.
The Grundfos Group is present in 45 countries with 82 companies employing in total more than 18,000 workers.
Eurofound (2009), Grundfos, Internal restructuring in Hungary, factsheet number 69229, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/69229.
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