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.
Financial Services Financial And Insurance Activities Financial Service Activities, Except Insurance And Pension Funding 64.11 - Central banking
91 jobs Number of planned job losses
Announcement Date
11 February 2009
Employment effect (start)
11 February 2009
Foreseen end date
31 March 2010
Description
The Hungarian National Bank (Magyar Nemzeti Bank, MNB) is to reduce its workforce by 91 workers in Budapest. The dismissals are part of an efficiency enhancement programme, initiated at the beginning of January 2008 and executed by McKinsey and Company, thus they are not connected to the global economic downturn. The majority, 67 employees, of those made redundant will leave the company by December 2009 while the remaining 24 will be dismissed next year. The measure aims to save HUF 1.7b (€ 6.2m) annually, approximately 11% of its total running costs.
Sources
11 February 2009: Index
Citation
Eurofound (2009), Magyar Nemzeti Bank, Internal restructuring in Hungary, factsheet number 69651, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/69651.
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