Kozep-Magyarorszag; Kozep-Magyarorszag; Budapest
Location of affected unit(s)
Financial Services
Financial And Insurance Activities
Financial Service Activities, Except Insurance And Pension Funding
64.1 - Monetary intermediation

215 jobs
Number of planned job losses
Job loss
Announcement Date
18 November 2010
Employment effect (start)
18 November 2010
Foreseen end date
18 November 2011


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 (34104 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.


  • 4 November 2010: Napi Gazdagás
  • 13 December 2010: Világgazdaság
  • 4 November 2010: Heti Világ Gazdaság
  • 4 November 2010: HRPortál


Eurofound (2010), K&H Bank Hungary, Other in Hungary, factsheet number 71334, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/71334.