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.
Magyar Magyar Alumínium Termelő és Kereskedelmi (Mal) Zrt. notified its works council of the mass dismissal of 200-300 workers at its site in Ajka. The company, which is under liquidation, terminated the bauxit processing at the site by the end of July 2013.
According to the Labour Code the works council has 10 days to prepare a response to the notification about the dismissals.
The dismissals will take place in scheduled periods within the end of 2013, but could be prolonged until 1 May 2014.
According to the chair of the works council this restructuring is the second largest wave of dismissals (the first was in February this year) after the great mud disaster in 2011.
For previous restructuring measures see Magyar Alumínium Termelő és Kereskedelmi (Mal) 2013.
Eurofound (2013), Magyar Alumínium Termelő és Kereskedelmi (Mal), Bankruptcy in Hungary, factsheet number 75759, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/75759.