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 Wood And Paper Materials Manufacture Of Wood And Of Products Of Wood And Cork, Except Furniture; Manufacture Of Articles Of Straw And Plaiting Materials 16 - Manufacture of wood and of products of wood and cork, except furniture; manufacture of articles of straw and plaiting materials
182 jobs Number of planned job losses
Announcement Date
3 February 2009
Employment effect (start)
3 February 2009
Foreseen end date
30 April 2009
Description
As a consequence of the global economic crisis, Falco Forgácslapgyártó Zrt halved its production with the loss of 182 jobs. In December 2008, the company hoped to overcome economic hardship by planning its merchandising policy much more carefully; however, this hope faded away with the deepening of the global economic downturn. 130 affected employees worked in production while the other 52 in administrative positions. Before the crisis the company was undergoing major development following the acquisition by the Kronospan group in 2007. The new owner initiated the building of a new production facility, and completed successfully the first stage of the project before the beginning of the crisis. The Hungarian plant produces chipboard mainly for furniture manufacturing industry.
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