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.
Professional Services Professional, Scientific And Technical Activities Other Professional, Scientific And Technical Activities 74.9 - Other professional, scientific and technical activities n.e.c.
New offshoring locations
United Kingdom
300 jobs Number of planned job losses
Announcement Date
1 December 2016
Employment effect (start)
1 January 2017
Foreseen end date
2 December 2016
Description
GE Current - a General Electric's startup subsidiary in the energy field, which combines hardware technology with software technology - announced a plan to cut 300 job positions in Hungary. The company notified the government about its restructuring plans and stated that they would negotiate with workersʼ unions and representatives. According to Index's article, it wll be unlikely that GE Current cnages its plans. Minister János Lázár's assured that affected workers will be helped by the national employment services. According to Index's articleGE Current is going to relocate its activities to London from Hungary.Â
GE is the largest American investor and employer in Hungary. The company has 9,000 employees in manufacturing and additional 1,500 employees in digital industry in Hungary.
Sources
1 December 2016: Index
2 December 2016: NRGreport
2 December 2016: BBJ
Citation
Eurofound (2016), GE Current, Offshoring/Delocalisation in Hungary, factsheet number 89287, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/89287.
Digitisation and automation technologies, including artificial intelligence (AI), can affect working conditions in a variety of ways and their use in the workplace raises a host of new ethical concerns.
The retail banking sector is fertile ground for studying the impacts of digitalisation on work and employment. Financial services are increasingly provided online, without the intermediary of customer-facing institutions.
European labour markets have recovered strongly from COVID-19. By the end of 2021, little more than 18 months after the start of the pandemic, employment rates in the EU were almost at pre-crisis levels.
