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.
Information / Communication Information Service Activities Information Service Activities 63 - Information service activities
200 jobs Number of planned job creations
Announcement Date
11 October 2016
Employment effect (start)
Foreseen end date
31 December 2016
Description
German-based information technology company, Freudenberg IT, has decided to expand its business by opening a new site in Kosice IT Valley in Slovakia and plans to create about 200 new jobs by the end of 2016. In July 2016, the company initially announced plans to hire dozens of employees for the new site. Freudenberg IT in Kosice will provide IT services and software development solutions for European and American customers. Slovakia is the seventh country where the company has opened a subsidiary. According to the Chief Executive Officer of Freudenberg IT, Horst Reichardt, the company considered 15 other European locations before deciding on Kosice because of the attractiveness of the Kosice IT Valley business environment. In comparison with other options, the wage demands are higher in Kosice but the availability of talent was the deciding factor for the location of the new site. According to the Executive Director of Kosice IT Valley, Kristina Kerteszova, IT companies choose to locate their business in Kosice because of the quality of the available workforce in the area.
Sources
11 October 2016: Slovak Spectator
15 July 2016: TREND
Citation
Eurofound (2016), Freudenberg IT, Business expansion in Slovakia, factsheet number 88883, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/88883.
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