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.
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.
Eurofound (2009), Magyar Nemzeti Bank, Internal restructuring in Hungary, factsheet number 69651, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/69651.