Budapest Közlekedési Vállalat

Type
Internal restructuring
Country
Hungary
Region
Közép-Magyarország; Budapest; Budapest
Location of affected unit(s)
Budapest
Sector
Transportation / Storage
49 - Land transport and transport via pipelines
49.3 - Other passenger land transport
49.39 - Other passenger land transport n.e.c.
450 jobs
Number of planned job losses
Job loss
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 ).

For information on a previous restructuring announced by the company see Budapesti Közlekedési Vállalat 2007 .

Sources

  • 17 May 2013: Privat Bankár
  • 17 May 2013: HR Portal
  • 17 May 2013: Szakszervezetek

Citation

Eurofound (2013), Budapest Közlekedési Vállalat, Internal restructuring in Hungary, factsheet number 75411, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/75411.