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.
Administrative Services Office Administrative, Office Support And Other Business Support Activities Office Administrative And Support Activities 82.11 - Combined office administrative service activities
100 jobs Number of planned job creations
Announcement Date
2 April 2019
Employment effect (start)
2 April 2019
Foreseen end date
31 December 2019
Description
US-based International Flavours & Fragrances (IFF) officially opened its financial service centre in Budapest in 2 April. By the end of this year, according to the plans, the number of employees at the centre will exceed 100. The centre begins its operation with 50 employees.
The centre will provide financial services for the whole group on a global scale. The choice of Budapest is due to several factors: it provides a cost-efficient and business-friendly environment, it has a well-developed infrastructure and a well-qualified workforce pool, and also it is a location that can cooperate with both US and Asian time zones.
At present, there are approximately 110 business service centres operating in Hungary, with a combined staff of about 50,000.
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Sources
2 April 2019: Hungarian Investment Promotion Agency (hipa.hu)
Eurofound (2019), International Flavors & Fragrances I.F.F., Business expansion in Hungary, factsheet number 97553, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/97553.
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