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.
Transportation / Storage Land, Water And Air Transportation Land Transport And Transport Via Pipelines 49.39 - Other passenger land transport n.e.c.
450 jobs Number of planned job losses
Announcement Date
17 May 2013
Employment effect (start)
18 May 2013
Foreseen end date
Description
Budapest public transport company BKV has announced the loss of 450 jobs through voluntary means, natural fluctuation, and non renewal or discontinuation of fixed-term contracts. Forced dismissals will be avoided.
Some of its services are being taken over by VT Transman (see VT Transman 2013) and Volan Busz as BKV’s budget is being cut. Further on, banks are expected to terminate credit contracts this autumn, if BKV does not come to an agreement with BKK (Budapest Transport Centre managing the coordination and management of all transport-related activities ).
Eurofound (2013), Budapest Közlekedési Vállalat, Internal restructuring in Hungary, factsheet number 75411, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/75411.
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