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.
Although back in November 2008, Piszke Papír of Lábatlan, a producer of paper products, envisaged the dismissal of 147 workers in two waves, the company went into liquidation in March 2009. The closure now affects all of its 420 employees. Notwithstanding, the new situation put workers in a clearer position compared to when the management left the country in January without either dismissing workers, or paying them salaries and other benefits. For this reason, after two months of uncertainty, workers organised a protest outside the factory. The situation reached such a level that the plant's trade union contacted the Greek Ambassador in Hungary asking for help in pursuing legal action against the company's owner.The factory, which used to employ up to 1,200 workers, emerged from its privatisation and since then the workforce has been shrinking perpetually, paralleling production line closures. The plant belongs to the Zeritis group, which owns in Hungary the Paper Factory of Szentendre and another site specialized in paper waste recycling.
Eurofound (2008), Piszke Papír, Closure in Hungary, factsheet number 68831, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/68831.
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