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.
Johnson Electric, a Hong Kong-based manufacturer of motors and other electro-mechanical components for automotive and industrial applications, closes its Ózd plant. The resulting layoff of its 800 employees will be implemented in several rounds and will come to completion by April 2022.
The Ózd plant has produced electro-mechanical components for electric motors since 2013. The firm says that demand has shifted from the products made in that plant to products made at other automated production sites operated by the firm, making the Ózd plant economically unviable.
The management says it will cooperate with the government, the Ózd municipality, the labour office and other employers to help its employees to find new workplaces. Also, the firm will offer to some of the Ózd workers the possibility to relocate to the Hatvan plant.
The government says it will help find a new investor, preferably one willing to take over the whole Johnson Electric facility. Besides, the government will support the vocational training and re-training of the laid-off employees.
The firm has a total of 1,600 employees in Hungary. As opposed to the Ózd plant, the Hatvan site is regarded by the management of the parent company as a crucial node of development. The Hatvan site is not just a production facility but also hosts the European service centre of Johnson Electric that performs various engineering, financial, IT, purchases and taxation related tasks.
Updated, 20/10/2025 Part of the dismissed workers will be re-employed by Neutrik Hungary, a company inaugurated in October 2025, in the plant previously used by Johnson.
Eurofound (2021), Johnson Electric, Closure in Hungary, factsheet number 104490, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/104490.
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