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.
Strabag Magyarország dismissed 200 workers in early 2009. The job cuts were attributed to the contraction of the Hungarian building industry caused by the global economic crisis. Mr Fényi, company communications manager, in reply to an inquiry made by Index (an on-line news portal) claimed that if trends remained unchanged the number of dismissals could rise up to even 30% of the company's headcount. Prior to the restructuring, the company employed 3,941 persons. Budapest-based Strabag Magyarország is a subsidiary of construction group Strabag SE.
Eurofound (2008), Strabag Magyarország, Internal restructuring in Hungary, factsheet number 70110, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/70110.