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.
The Székesfehérvár unit of Tulipán Ruhaipari Rt., one of the three Hungarian units of the Spanish Grupo Cortefiel, which manufactures primarily men's jackets for French, Portuguese and Spanish markets, is being closed down and all 250 employees are being laid off. Manufacturing will be moved to North Africa and to China for lower production costs. The local employment office has been notified of the mass redundancy. Employees will take remaining days off and the shortest term of notice will be one month; further details of the dismissals are to be negotiated with employee representatives. The company is making attempts to sell the unit so that cloth maufacturing can continue there and at least some of the employees can be employed in the future. The other two factories of Cortefiel Group (Women's Secret Kereskedelmi Kft. and Springfield Hungary Kereskedelmi Kft.) are not affected by the closure of the Székesfehérvár unit but so far it is unclear what happens to the logistics and administrative centre of Cortefiel which is also located in Székesfehérvár.
Eurofound (2006), Tulipán Ruhaipari Rt., Offshoring/Delocalisation in Hungary, factsheet number 63848, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/63848.
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