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.
Construction Construction Of Buildings And Infrastructure Engineering Civil Engineering 42 - Civil engineering
200 jobs Number of planned job losses
Announcement Date
28 November 2008
Employment effect (start)
1 January 2009
Foreseen end date
1 January 2009
Description
Strabag Magyarország dismissed 200 workers in early 2009. The job cuts were attributed to the contraction of the Hungarian building industry caused by the global economic crisis. Mr Fényi, company communications manager, in reply to an inquiry made by Index (an on-line news portal) claimed that if trends remained unchanged the number of dismissals could rise up to even 30% of the company's headcount. Prior to the restructuring, the company employed 3,941 persons. Budapest-based Strabag Magyarország is a subsidiary of construction group Strabag SE.
Sources
28 November 2008: Index
Citation
Eurofound (2008), Strabag Magyarország, Internal restructuring in Hungary, factsheet number 70110, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/70110.
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