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 K&H Bank has announced the loss of 215 employees in Hungary over the next year. A final decision has been made after a month of consultation. The dismissal would affect the central regions of the country and the capital. The reason provided by the management is the new taxation system introduced this autumn as well as the rationalisation of activity.
Experts say that the rationalization of banking sector has already begun after the employment peak in 2008 (34,104 employees) and subsequent declines in 2009 (-4,4%).
K&H Group is a financial services provider with one of the largest client base in Hungary. K&H offers insurance and financial services to retail companies as well as corporates of all sizes.
Eurofound (2010), K&H Bank Hungary, Internal restructuring in Hungary, factsheet number 71334, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/71334.