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, Printing And Reproduction Of Recorded Media Printing And Reproduction Of Recorded Media 18.11 - Printing of newspapers
220 jobs Number of planned job losses
Announcement Date
7 January 2006
Employment effect (start)
9 January 2006
Foreseen end date
Description
Since 2004, the printing house Szikra Printing Rt lost half of its revenue as clients, mainly newspaper and magazines, opted
to setup printing facilities of their own. January 2006 will see a further decrease in Szikra's clients since daily Népszabadság, with its
160,000 copies a day, will also leave. The losses are making Szikra focus on cost cutting by 20-50%. About 220 members of the 340 staff will be laid off. The now obsolete machines will probably be sold.
Sources
7 January 2006: Világgazdaság
Citation
Eurofound (2006), Szikra Printing, Internal restructuring in Hungary, factsheet number 62758, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/62758.
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