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
734 jobs Number of planned job losses
Announcement Date
26 November 2008
Employment effect (start)
1 January 2009
Foreseen end date
Description
Alcoa, the world's biggest aluminium producer, will cut 730 jobs at two of its plants in Hungary. Alcoa, the 12th biggest employer in Hungary, attributed the job losses to the financial crisis. At its site in Mór in the Central Transdanubian region, 650 employees out of the 3,047 are expected to lose their jobs between the end of January and the end of April 2009. The plant produces integrated electrical distribution systems, plastic components and electronics. At the other site in Székesfehérvár, which manufactures flat rolled products, 84 out of 730 jobs are expected to be cut. As of 27 November 2008, no announcement has been made as to when these job cuts will be implemented by.
Sources
27 November 2008: index.hu
Citation
Eurofound (2008), Alcoa Köfém, Internal restructuring in Hungary, factsheet number 67484, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/67484.
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