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.
Due to bankruptcy, production is terminated at Rába-Motor Gyártó Kft., therefore all the remaining 30 employees will be laid off after dismissing 100 workers in the past few months. The company, which manufactured engines and other motor components for countries of the Former Soviet Union mainly, has been struggling with low sales for a number of years. After several restructuring, the company went into liquidation in December, 2005. Employing 200 last year, Rába-Motor dismissed 100 of its employees in the past few months and the remaining staff will be laid off soon. 188 of the employees have not received salaries for 10 months, part of which at least is expected to be settled through Hungarian (state) insolvancy fund.
Eurofound (2006), Rába-Motor Gyártó, Bankruptcy in Hungary, factsheet number 63353, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/63353.