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.
Financial Services Financial And Insurance Activities Financial Service Activities, Except Insurance And Pension Funding 64.9 - Other financial service activities, except insurance and pension funding
130 jobs Number of planned job losses
Announcement Date
26 November 2008
Employment effect (start)
26 November 2008
Foreseen end date
Description
OTP Bank, Hungary's largest bank has laid off 130 of its 8,541 employees in Budapest and Pest county (Central Hungary). Employees in subsidiary companies were also dismissed. The bank explained that the lay-offs were the result of the most recent round of the regularly conducted audit of staff numbers, based on which the dismissal of 130 employees was deemed necessary.
Sources
26 November 2008: origo.hu
26 November 2008: index.hu
Citation
Eurofound (2008), OTP Bank, Internal restructuring in Hungary, factsheet number 67487, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/67487.
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