Type
Internal restructuring
Country
Hungary
Region
Kozep-Magyarorszag; Kozep-Magyarorszag; Budapest
Location of affected unit(s)
Budapest
Sector
Construction
Construction Of Buildings And Infrastructure Engineering
Civil Engineering
42 - Civil engineering

200 jobs
Number of planned job losses
Job loss
Announcement Date
28 November 2008
Employment effect (start)
1 January 2009
Foreseen end date
1 January 2009

Description

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.


Sources

  • 28 November 2008: Index

Citation

Eurofound (2008), Strabag Magyarország, Internal restructuring in Hungary, factsheet number 70110, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/70110.