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.
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.
Eurofound (2009), Falco Forgacslapgyarto, Internal restructuring in Hungary, factsheet number 68424, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/68424.