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
150 jobs Number of planned job losses
Announcement Date
12 February 2008
Employment effect (start)
1 March 2008
Foreseen end date
30 June 2008
Description
Kaposvári Villamossági Gyár (KVGY), a manufacturer and distributor of electrical equipment, has announced that it is to cut 150 jobs in the first half of 2008. The first wave of dismissals affecting 82 employees is to take place until March 2008. Another 68 employees (19% of blue collar workers and 29% of white collar workers) are to be made redundant by mid-2008. According to the company management, the job cuts are attributed to unfavourable economic conditions including the drastic increase in the price of raw materials.
Sources
12 February 2008: Magyar Nemzet
Citation
Eurofound (2008), Kaposvári Villamossági Gyár, Internal restructuring in Hungary, factsheet number 66327, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/66327.
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