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.
Digital Disc Drives, a wholly owned subsidiary of Bosch, is to close with the loss of 513 jobs. Dismissals are expected to take place between May and mid July 2009. The company notified the dismissals to the regional labour authorities on 27 January. The company, based in Kecskemét, produces CD mechanism, CD charger and navigation systems for the automotive industry, and is a supplier of a number of car producers including, among others, Fiat, Opel and Maserati. The production facility, once employing 1,200 workers, was funded by Robert Bosch GmbH and Tanashin Denki Co. in 1997. Bosch bought out its Japanese partner obtaining 100 % ownership in 2008. The closure of the plant is attributed, besides the economic crisis affecting the automotive industries worldwide, to the facility's uncompetitive production compared to Asian suppliers.
Eurofound (2009), Digital Disc Drives, Closure in Hungary, factsheet number 68431, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/68431.