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.
Japanese owned cable harness manufacturer, Euro Wire and Cable Services (EWCS), has initiated the closure of its Tatabánya plant. The measure will affect all 174 workers employed in the wire harness production facility. Mass redundancy was decided in February 2009 and workers are to receive layoff notice between March and April. The company promised to help dismissed workers raising their redundancy money.
The Hungarian unit has supplied the automotive and medical equipment industries since 1997.The closure of the plant was justified with the falling demand for the products manufactured at the Tatabánya facility caused by the global economical crisis.
The Hungarian plant is part of Himeji-City (Japan) based Hayakawa Densen Kogyo Co.Ltd., which was founded in 1964. The company has production facilities in Asia, America and Europe.
Eurofound (2009), Euro Wire and Cable Services (EWCS), Closure in Hungary, factsheet number 68643, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/68643.