Restructuring events
European Restructuring Monitor (ERM)
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.
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.
Eurofound (2019), International Flavors & Fragrances I.F.F., Business expansion in Hungary, factsheet number 97553, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/97553.