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.
Manufacturing Manufacture Of Computer, Electrical Electronic And Optical Products Manufacture Of Computer, Electronic And Optical Products 26.20 - Manufacture Of Computers And Peripheral Equipment
New offshoring locations
Mexico
448 jobs Number of planned job losses
Announcement Date
15 August 2023
Employment effect (start)
31 August 2023
Foreseen end date
Description
US technology conglomerate IBM has announced the closure of its backup storage device factory in Vác. The company will concentrate its global storage device production in a single location in Mexico, to enhance efficiency.
The IBM plant in Vác, Hungary, has 448 employees, making it an important employer in the region. The management of IBM states that part of the laid-off personnel will get remote jobs at other IBM subsidiaries, while the number of employees to be offered this opportunity is not yet known. The employees will be informed individually about the timing of their lay-off and the severance package offered to them by the end of August 2023. The severance packages, per consultations with the trade unions and the works council, meet the legal requirements and the industry standard.
Eurofound (2023), IBM Data Storage Systems, Offshoring/Delocalisation in Hungary, factsheet number 109347, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/109347.
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