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.
Hír TV announced on 1 April that it will dismiss most of its employees, more specifically 180 out of 190. The contracts of the affected staff members will end in May. After that, they will receive compensation, and they are entitled to notice periods, in proportion of their years of service.
1 April is the official date of fusion between Echo TV and Hír TV. While the firm after the merger will retain the name Hír TV, it will be located at the former site of Echo TV, and a much larger share of Echo TV employees will remain employed.
The fusion with Echo TV comes not long after both TV channels came under the control of the same nonprofit media foundation (Central European Press and Media Foundation – KESMA) last November.
Eurofound (2019), HírTV, Merger/Acquisition in Hungary, factsheet number 97542, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/97542.