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 financial leasing company Raiffeisen Lizing announced the loss of 120 out of 227 jobs during the first quarter of 2009. Initially 150 dismissals had been reported. The management blamed the dismissals on the decreasing demand for leasing and the global financial crisis. The company provides dismissed employees with severance payment above the statutory minimum as well as career counselling in order to help them to find a new job. Raiffeisen Lizing has been based in Budapest since 1993 and is owned by Raiffeisen Bank.
Eurofound (2009), Raiffeisen Lizing, Internal restructuring in Hungary, factsheet number 70114, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/70114.