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 29.1 - Manufacture of motor vehicles
600 jobs Number of planned job creations
Announcement Date
10 August 2006
Employment effect (start)
10 August 2006
Foreseen end date
31 December 2006
Description
Suzuki's deputy general manager in Hungary, István Forián, announced at the end of July that the company would increase its staff by 600 people to 4,700 by the end of 2006. He said the move would take advantage of one the government's new programs, which looks to find employment in the private sector for those in the public sector who have been laid off due to the government streamlining of its own workforce. The job offer responds to the wide-ranging project of the re-elected MSZP-SZDSZ (Hungarian Socialist Party - Alliance of Free Democrats) coalition government to streamline the entire public administration system, which forms part of the efforts of the Government to reduce state expenditures and to restore the budgetary balance (‘austerity package’). All ministries have been affected by the reorganisation, as a result of which one third of the 7,300-7,500 strong workforce of ministries and related institutions are expected to be laid off in the next two years (in average 200-220 employees per ministry).
Sources
17 August 2006: Budapest Business Journal
10 August 2006: Budapest Sun
Citation
Eurofound (2006), Suzuki, Business expansion in Hungary, factsheet number 64719, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/64719.
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