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 Electrical Equipment 27 - Manufacture of electrical equipment
120 jobs Number of planned job losses
Announcement Date
2 March 2006
Employment effect (start)
Foreseen end date
31 March 2006
Description
Japanese company TDK, a major producer of magnetic products, set up the plant in Rétság (Nógrád county) ten years ago, and employed up to 1100 people. However, production volume and employment have been shrinking for years, and now one of four divisions, the production of ferrite cores for transformers, will be closed due to competitive pressure on the European market. Rumours that the plant will be relocated to Ukraine where not confirmed by the company. When coming to Hungary, TDK received state subsidies and was granted a ten year tax break.
Sources
Citation
Eurofound (2006), TDK Elektronika Magyarország, Closure in Hungary, factsheet number 63119, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/63119.
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.
