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.
On 3 November 2010, ZF Hungary announced that it is to hire 170 workers in Eger (Hungary) by the end of this year. Over the past years, the crisis has forced the company to reduce its workforce. For example, in 2008 they had 800 employees and during 2009 there were only 658 employees due to a series of dismissals.
The company is looking to recruit qualified gearbox mechanics, storage quality controllers, mechanical engineers and strategic purchasers. The company anticipates that the increase in production will boost market demand and employment at suppliers within a 30kms radius of the company.
ZF develops and produces transmissions, steering systems, axles, and chassis components as well as complete systems for passenger cars, commercial vehicles, and off-road machinery. Since German ZF AG bought the Csepel Auto factory in 1995, ZF has been operating in Hungary and has invested around 200 Million Euros.
Eurofound (2010), ZF Hungary, Business expansion in Hungary, factsheet number 71143, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/71143.
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