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 Manufacturing Of Machinery And Equipment Manufacture Of Machinery And Equipment N.E.C. 28 - Manufacture of machinery and equipment n.e.c.
85 jobs Number of planned job losses
Announcement Date
6 November 2008
Employment effect (start)
Foreseen end date
6 December 2008
Description
As of 6 December 2008, FAG Magyarország Ipari Kft., a subsidiary of Schaeffler Group, dismissed 85 of its 650 employees. The company, established in 1999, is located in Debrecen, Eastern Hungary, operates in the production and distribution of rolling bearings and rolling bearing components. The group has invested EUR 28 bln into its activities in Hungary. The management blames the dismissals on the sharp decline in orders.
Sources
12 November 2008: index.hu
Citation
Eurofound (2008), FAG, Internal restructuring in Hungary, factsheet number 68012, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/68012.
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