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 For Transport Equipment Manufacture Of Motor Vehicles, Trailers And Semi-Trailers 29.1 - Manufacture of motor vehicles
1,200 jobs Number of planned job losses
Announcement Date
28 November 2008
Employment effect (start)
19 December 2008
Foreseen end date
27 February 2009
Description
Car manufacturer Magyar Suzuki Zrt. initiated a mass redundancy scheme involving 1,200 employees thoughout Hungary. The company implemented incentives for workers to leave the company voluntarily offering them two months of salary and other benefits. According to the company, written warnings and commendations were used as a basis for dismissals. Additionally, in cases where both spouses in a couple were considered, only one was dismissed.
Sources
19 December 2008: Menedzment Fórum
28 November 2008: HR Portal
28 November 2008: Index
Citation
Eurofound (2008), Magyar Suzuki, Internal restructuring in Hungary, factsheet number 69659, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/69659.
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