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.
Alfod es Eszak; Eszak-Magyarorszag; Borsod-Abauj-Zemplen
Location of affected unit(s)
Ózd
Sector
Manufacturing Manufacture Of Computer, Electrical Electronic And Optical Products Manufacture Of Electrical Equipment 27 - Manufacture of electrical equipment
250 jobs Number of planned job creations
Announcement Date
28 April 2011
Employment effect (start)
Foreseen end date
Description
GE Energy has recently inaugurated a HUF 900 million production line at its site in the Hungarian city of Ózd. The investment will create 250 jobs.
State secretary in charge of employment at the Ministry of National Economy Sándor Czomba said the investment is particularly important because it will have a positive impact on the economy of a disadvantaged region.
In 2010, the company had announced the dismissal of over 2,570 employees by the end of 2011 (see previous fact sheet n. 16398), but new investments and the relocation of production facilities have allowed the company to save almost 500 jobs. For example, the company has changed from traditional light bulbs to halogen light bulbs on their production lines.
Sources
28 April 2011: Index
28 April 2011: Portfolio.hu
28 April 2011: Menedzsemnt Forum
Citation
Eurofound (2011), GE Hungary, Business expansion in Hungary, factsheet number 71962, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/71962.
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