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.
Car industry supplier Denso Hungary Kft. announced on 10 July 2009 it will lay off 800 workers, representing almost 20% of the firm's workforce, starting from 1 October. The restructuring is a consequence of contraction in the global car industry. The company has previously implemented a variety of cost saving programmes, such as shift reduction and implementation of a 4-day work week.
For those employees who agreed to leave the company on a voluntary basis, the firm offered two months extra salary, beyond those benefits required by law. In case further cuts should be needed, the company plans to lay off those employees who have had disciplinary problems since 2004.
The Hungarian plant is part of Denso Corporation, with headquarters in Kariya (Japan), and produces parts for diesel engines.
Eurofound (2009), Denso Manufacturing, Internal restructuring in Hungary, factsheet number 69618, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/69618.
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