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.
Scintilla, a newly created spinoff firm, will employ 100 former Tungsram employees in Zalaegerszeg. If the volume of orders increases as planned, the number of employees will rise to 150. Scintilla will hire the workers under standard employment contracts.
Tungsram, a lightning system producer, is currently under liquidation (HU-Tungsram-2022). The employees received the notice of termination at all five production sites by the end of 2022. Under Scintilla, the Zalaegerszeg site will continue to produce the same line of manufactured metal products to the same buyers, using the same technology as Tungsram did.
In December 2022, the Tungsram management said that about 500 former employees may get employment at various spinoff firms countrywide in early 2023.
Eurofound (2023), Scintilla Fémalkatrész, Business expansion in Hungary, factsheet number 108630, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/108630.