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.
Following the bankruptcy of MALÉV, the Hungarian national airline group, the company has announced the dismissal of all 2,080 employees in the frame of a mass dismissal process. Employees have received notifications via e-mail after notifying the authorities on 10 February 2012.
Malév employed 1,100 employees directly and a further 980 employees in their subsidiaries (450 Malév Ground Handling, 230 ACE responsible for maintenance and 300 hired via the employment agency Trenkwalder). The step is taken because Malev ceased its operations as of early February 2012.
The incoming Irish air transportation company Ryanair may employ many of the dismissed MALÉV employees, according to newspaper reports.
Eurofound (2012), Malév, Bankruptcy in Hungary, factsheet number 73079, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/73079.