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.
Malév, the recently privatised Hungarian airline, now belonging to Airbridge Zrt., announced a mass redundancy of maximum 9% of the company's employees. Behind the restructuring is the goal to rationalise the organisation and improve efficiency by reducing the number of departments and administrative staff. A saving of about HUF1.2 billion is expected from the reorganisation. CEO of the company, Péter Lenov, met with representatives of trade unions and confirmed that the redundancy would affect less than 10% of staff, a limit set in the privatisation contract. He also assured employee representatives that during the reorganisation the company management will consult trade unions, as regulated in the company's collective agreement and as prescribed by the Labour Code. The regional employment office and trade unions operating within the company have been informed of the planned mass redundancy but there is no information about the exact number of affected employees, or about the timeline of the restructuring.
Sources
7 November 2027: Napi Online
Citation
Eurofound (2007), Malév/Airbridge.Zrt., Merger/Acquisition in Hungary, factsheet number 66051, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/66051.
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