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 Germany-based energy-sector conglomerate Siemens Energy, announced the reduction of 150 positions at its Csepel transformer-distribution plant in Budapest. The workforce cuts are scheduled to begin on 10 April 2026 and conclude by the end of 2026. Between 100 to 150 of its own employees, as well as at least 50 agency workers will be affected.
The workforce reduction is part of a programme aimed at reducing the overall cost of producing custom-made transformers by 30%. The company cited market pressures, economic slowdown and heightened competition as the main drivers for the job cuts,
The layoffs will occur entirely in Csepel, involving direct dismissals only. The management has said it will assess individually whether it is possible to transfer affected employees into other positions within the firm or to other Hungarian affiliates of Siemens Energy.
The firm currently employs 556 people at the site.
Eurofound (2026), Siemens Energy, Internal restructuring in Hungary, factsheet number 300112, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/300112.