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.
The Hungarian subsidiary of German multinational company Bosch will lay off more than 800 employees at its Hatvan plant, the management informed its staff. Around 700 agency workers will be made redundant by the end of April 2020, while another 130 employees – working in areas different than direct production – will be laid off by the end of the year.Since the beginning of the coronavirus crisis, the plant’s stock of orders plunged by 70-75%. This fact, along with the expectation that production will not return to its original levels any soon, motivated the management to reduce the workforce.
There are several Bosch production sites in Hungary – the Hatvan plant produces electronic parts for the automotive industry. It is the largest production unit within the auto electronics division of Bosch. Currently, the plant employs around 6,000 workers.
Eurofound (2020), Bosch Hungary, Internal restructuring in Hungary, factsheet number 100414, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/100414.