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.
Foxconn Hungary, Taiwan-based handset and camera maker, has announced that it is to cut 1,500 jobs at two plants located in Komárom (Northern Hungary) and Debrecen (Eastern Hungary) affecting more than half of the total workforce. Of the 1,500 job losses, 334 will occur at the smaller plant in Debrecen, and the remainder - more than 1,000 – at the Komárom site, affecting operators, engineers, office staff and managers. Redundant workers were informed on 20 December 2008, they will receive formal notification by 20 January 2009, which will take effect one month later.
Foxconn Electronics Inc., the trade name for Hon Hai Industry Co. Ltd funded in 1974, with headquarters in Taipei, Taiwan, is one of the world's major producer of connectors for desktop and notebook PCs and a wide variety of electrical (e.g. usb and data) cables. Its Hungarian plants are the major global suppliers of Nokia.
Eurofound (2008), Foxconn, Internal restructuring in Hungary, factsheet number 67763, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/67763.