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.
In February 2009, BPW Hungária announced the loss of 270 jobs, mainly implemented through non-renewal of contracts; however, direct dismissals also occurred. Since December 2009, the plant had switched to a four-day work week in order to cope with falling demand resulting from the economic downturn which has hit hard the car industry. However, as production shrunk further (from 940 axles to 140) the company was forced to reduce the work week to three days and requested public subsidies, threatening the dismissal of another 130 workers.
The Hungarian production facility is part of BPW Bergische Achsen Kommanditgellschaft, a manufacturer of axles and suspension systems for trailers and semi-trailers. The company headquarters are located in Wiehl (Germany).
Eurofound (2009), BPW Hungária, Internal restructuring in Hungary, factsheet number 70034, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/70034.