Szikra Printing

Type
Internal restructuring
Country
Hungary
Region
Közép-Magyarország; Budapest; Budapest
Location of affected unit(s)
Budapest
Sector
Manufacturing
(18) Printing and reproduction of recorded media
18.1 - Printing and service activities related to printing
18.11 - Printing of newspapers
220 jobs
Number of planned job losses
Job loss
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://apps.eurofound.europa.eu/restructuring-events/detail/62758.