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.
Mining / Quarrying Mining And Quarrying Extraction Of Crude Petroleum And Natural Gas 06 - Extraction of crude petroleum and natural gas
220 jobs Number of planned job losses
Announcement Date
19 February 2009
Employment effect (start)
19 February 2009
Foreseen end date
31 December 2009
Description
MOL, Hungary's oil and gas group, initiated a mass redundancy measure involving 220 workers in Budapest. Dora Somlyai, the company's communications director, confirmed the layoffs on 19 February 2009. 70 of the employees will retire, some opting for early retirement. Dismissals were undertaken following an efficiency assessment, conducted before the onset of the economic crisis, thus the company claims they are not connected with the ongoing economic crisis. Redundancies are only occurring at the parent company; the decision does not affect other members of the group.
Sources
19 February 2009: Portfolio
19 February 2009: Heti Világgazdaság
19 February 2009: Népszabadság
Citation
Eurofound (2009), MOL, Internal restructuring in Hungary, factsheet number 69653, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/69653.
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