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.
Professional Services Scientific, Architectural And Engineering Technical Activities Scientific Research And Development 72.19 - Other research and experimental development on natural sciences and engineering
120 jobs Number of planned job creations
Announcement Date
25 March 2021
Employment effect (start)
Foreseen end date
30 September 2021
Description
The Hungarian subsidiary of Siemens Mobility, a company of German manufacturing conglomerate Siemens with a focus on rolling stock, railway infrastructure products and railway services, will expand its Budapest Research & Development department, creating 120 new engineering jobs by the end of September this year.
The R&D department makes railway software. It helps to develop solutions for the digitalisation of track-based transport modes, such as IT systems to facilitate driverless railway transport, security diagnostic that can predict defects, and integrated engineering systems that encompass the whole infrastructure.
With the workforce expansion, the number of employees working in this field will reach 169.
The investment cost of the expansion is €10.3 million. The Hungarian government supports the development with a non-refundable subsidy of €2.5 million.
25 March 2021: Hungarian Investment Promotion Agency (hipa.hu)
Citation
Eurofound (2021), Siemens Mobility, Business expansion in Hungary, factsheet number 104397, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/104397.
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