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.
Manufacturing Manufacture For Transport Equipment Manufacture Of Motor Vehicles, Trailers And Semi-Trailers 29.3 - Manufacture Of Parts And Accessories For Motor Vehicles
320 - 520 jobs Number of planned job losses
Announcement Date
20 December 2023
Employment effect (start)
1 January 2024
Foreseen end date
29 February 2024
Description
Yura Corporation, an automotive cable manufacturer have announced a closing of operations at their Hnuste plant. From a total of 520 employees, 320 were laid off and 200 were offered a professional transfer to their sisterly Rimavska Sobota plant.
The cause of the closure is an unfavourable economic situation and rationalization of expenses at 2 plants instead of one. Also, the Hnuste plant was operating in loaned premises, therefore increasing its costs beyond breaking point.
The Rimavska Sobota plant is 20 kilometres away and should employ a total of 1100 employees after the closure of Hnuste plant.
Eurofound (2023), YURA , Closure in Slovakia, factsheet number 200872, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/200872.
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