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.
Swedish home appliance manufacturer Electrolux will close down its refrigerator factory in Nyíregyháza at the start of 2024. The company's management announced that production will be gradually phased off according to a pre-determined schedule. The factory has 650 employees.
The management will start consultations with the works council concerning severance payments and the programs aimed at helping workers find new jobs, which would include organising on-site job fairs.
In addition to soaring energy prices and overall logistics costs, a drop in demand has also prompted the firm's decision to close the plant.
In contrast, the Jászberény plant of Electrolux is unaffected by the downsizing as that plant produces refrigerators which meet the latest energy efficiency requirements.
Eurofound (2023), Electrolux Lehel Hűtőgépgyár, Closure in Hungary, factsheet number 108376, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/108376.