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
150 jobs Number of planned job creations
Announcement Date
31 May 2022
Employment effect (start)
1 September 2022
Foreseen end date
Description
Finnish telecommunications and IT firm Nokia expands its 5G development capacity at its Budapest research and development centre. As a result, 150 high-quality jobs will be created.
The expanded research program costs €6.8 million, €1.7 of which will be covered by non-refundable state subsidy. The expansion helps widen the range of services offered by 5G mobile networks and simplify the installation and operation of the networks.
Nokia's research and development center in Budapest already employs more than 2,000 people.
Sources
31 May 2022: Hungarian Investment Promotion Agency (hipa.hu)
Eurofound (2022), Nokia Solutions and Networks, Business expansion in Hungary, factsheet number 106915, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/106915.
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