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 Telekom, the Hungarian subsidiary of Deutsche Telekom, announced a 350 persons dismissal by the end of 2017, after coming to an agreement with the trade unions. A further 160 employees are planned to be made redundant in the near future due to decreasing human resource requirements in some projects.
At the same time Magyar Telekom promised an average 5 % increase in wages for the remaining employees across the board and training and consultancy support to those being made redundant. Severance payments are estimated to amount to a total of HUF 2.8 billion (EUR 9.1 million).
Magyar Telekom has been steadily decreasing its workforce in recent years, the planned 510 person layoff means a 5.5 % drop from the 9,226 workforce of June 2017. Â
Sources
4 October 2017: Portfolio.hu
4 October 2017: Napi.hu
Citation
Eurofound (2017), Magyar Telekom, Internal restructuring in Hungary, factsheet number 92281, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/92281.
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.
