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 Manufacture Of Computer, Electrical Electronic And Optical Products Manufacture Of Electrical Equipment 27 - Manufacture of electrical equipment
1,150 jobs Number of planned job losses
Announcement Date
16 January 2009
Employment effect (start)
16 January 2009
Foreseen end date
31 March 2009
Description
Finnish owned Elcoteq Hungary initiated a mass redundancy measure affecting 1,150 of its 5,400 strong workforce. Among those who had to leave the company 900 people were temporary agency workers while the rest (250 workers) were full time employees of the company. The plant's management indicated that falling employment is partially due to the cyclical nature of the production; however, the job losses are also attributed to the global economic downturn and are part of the company's global restructuring programme.
The company is a leading electronics manufacturing services (EMS) company in the communications technology field, producing mobile phones and their parts, set top boxes, electronics for flat screen TVs and tower-top amplifiers among other related products.
Eurofound (2009), Elcoteq, Internal restructuring in Hungary, factsheet number 68275, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/68275.
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