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.
Car electrical systems manufacturer Dräxlmaier in Mór, Hungary announced the collective redundancy of 445 employees. A new management team launched the internal restructuring.
The Dräxlmaier Group is a supplier for the automobile industry at 51 sites located on four continents in 20 different countries (in Europe: Germany, Austria, Spain, Poland, Romania, Great Britain, Slovakia, Hungary and Serbia).
Another company in Mór - Flextronics (see fact sheet n. 15670) - has recently announced some collective redundancies. As the town only about 14,500 inhabitants, these job cuts result in a significant increase in local unemployment.
Eurofound (2010), Dräxlmaier, Internal restructuring in Hungary, factsheet number 70872, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/70872.