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.
Dutch electronics corporation Philips has announced the dismissal of 230 employees at its unit in Székesfehérvár, Hungary. The jobs will be cut in two steps until the end of April 2012 and the implementation of the dismissals has already started.
Philips had 750 employees in September 2011 in Székesfehérvár. Now, jobs will be cut due to an outsourcing and relocation of the production of razors, phones and toothbrushes and a change to the production of TVs. Philips had joined a TV joint venture with Chinese TPV in April 2011.
Eurofound (2012), Philips Hungary, Internal restructuring in Hungary, factsheet number 73304, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/73304.