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 For Transport Equipment Manufacture Of Other Transport Equipment 30 - Manufacture of other transport equipment
210 - 260 jobs Number of planned job losses
Announcement Date
30 March 2009
Employment effect (start)
15 April 2009
Foreseen end date
31 December 2009
Description
MÃV Vasjármű, a company specialised in the reparation and maintenance and production of rail (mainly cargo-rail) coaches and locomotives, initiated a new mass redundancy programme. Although the company informed the local labour centre that a maximum of 160 workers could be affected by the measure, the management hopes that no more than 110 employees will have to be dismissed. The affected workers have already been informed about the decision and will receive formal dismissal notice during April, with unemployment taking effect as of May or June. Another 100 job losses will be achieved by non-renewal of temporary contracts.
The company, owned in 25% by the Hungarian State Railways (Magyar Ãllam Vasutak, MÃV) and 75% by investors, lost one of its major clients with the privatization of cargo services of MÃV which was bought by the Austrian State Railway that started to use its own repair capacities for those tasks that previously had been carried out by MÃV Vasjármű.
Sources
31 March 2009: HR Portal
30 March 2009: Index
30 March 2009: Népszabadság
30 March 2009: Zoom
Citation
Eurofound (2009), MÃV Vasjármű, Internal restructuring in Hungary, factsheet number 68796, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/68796.
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