Type
Internal restructuring
Country
Hungary
Region
Location of affected unit(s)
NA
Sector
Construction
Construction Of Buildings And Infrastructure Engineering
Civil Engineering
42 - Civil engineering

200 - 220 jobs
Number of planned job losses
Job loss
Announcement Date
26 November 2008
Employment effect (start)
20 December 2008
Foreseen end date
20 December 2008

Description

Swietelsky Építő Kft., a subsidiary of Swietelsky Co., one of the leading construction companies in Central and Eastern Europe, laid off around 25% of its workforce as of 20 December. The 200-220 dismissed employees include mainly manual workers. Company spokesperson, Mariann Blandl, blamed the dismissals on the seasonal character of the industry and a decline in orders. The company spokesperson explained that 20% of the dismissals is a result of the current economic crisis. The company may hire the dismissed employees again in three months.


Sources

  • 26 November 2008: index.hu

Citation

Eurofound (2008), Swietelsky Építő Kft., Internal restructuring in Hungary, factsheet number 68011, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/68011.