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 ICT firm Magyar Telekom, a Hungarian subsidiary of Deutsche Telekom, has decided to lay off some 120 employees in 2025. The bulk of the layoffs will occur in the first quarter of next year. In addition to the severance package stipulated in the collective agreement, the affected workers will receive an extra month's severance pay.
The company's statement cited the need to continuously make efficiency gains and changes in labor market conditions as explanations for the decision. According to the statement, management reached an agreement with labor representatives regarding the layoffs. Another part of the agreement is that the remaining employees will receive a pay raise above the expected inflation rate in 2025
Eurofound (2024), Magyar Telekom Távközlési, Internal restructuring in Hungary, factsheet number 201924, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/201924.
Digitisation and automation technologies, including artificial intelligence (AI), can affect working conditions in a variety of ways and their use in the workplace raises a host of new ethical concerns.
The retail banking sector is fertile ground for studying the impacts of digitalisation on work and employment. Financial services are increasingly provided online, without the intermediary of customer-facing institutions.
European labour markets have recovered strongly from COVID-19. By the end of 2021, little more than 18 months after the start of the pandemic, employment rates in the EU were almost at pre-crisis levels.
