Restructuring events
European Restructuring Monitor (ERM)
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.
In March 2009, British oil and gas company BP announced the creation of a new operations centre in Budapest. On 17 November 2009 at the opening ceremony of the new site the company had already hired and trained 300 employees. The company expects the new centre to be fully operational within four years by when it will employ approximately 1,000 workers. BP benefited from a governmental grant to help investors creating new jobs. In 2010, BP will be also relocating 260 jobs from Germany (200 dismissals in Hamburg, 50 in Mönchengladbach and 10 in Uwe Franke) to Hungary. Prior to this business expansion, BP employed only 70 people.
Eurofound (2009), BP Magyarország, Business expansion in Hungary, factsheet number 70105, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/70105.