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.
Alfod es Eszak; Eszak-Magyarorszag; Borsod-Abauj-Zemplen
Location of affected unit(s)
Miskolc
Sector
Manufacturing Manufacture Of Computer, Electrical Electronic And Optical Products Manufacture Of Electrical Equipment 27.12 - Manufacture of electricity distribution and control apparatus
300 jobs Number of planned job creations
Announcement Date
5 October 2017
Employment effect (start)
1 July 2017
Foreseen end date
1 January 2021
Description
Hong Kong-based electronic charger and power supply manufacturer Ten Pao opened its new production plant and connecting office units in Misckolc, northern Hungary. Operating with a 17-strong staff since July, the 2,600 square meter factory will create 300 new jobs. Targeting a USD 100 million (EUR 85.2 million) production output by 2021, the factory will produce charging units, printed circuits and automatic switches.
Ten Pao, with the first step of a HUF 4.5 billion (EUR 14.6 million) investment, chose Miskolc for the location of its first non-Asian facility as most of its partners are based in Hungary.
Sources
5 October 2017: 24.hu
5 October 2017: boon.hu
Citation
Eurofound (2017), Ten Pao, Business expansion in Hungary, factsheet number 92328, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/92328.
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.
