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 27.4 - Manufacture of electric lighting equipment
2,100 jobs Number of planned job losses
Announcement Date
15 November 2010
Employment effect (start)
1 January 2011
Foreseen end date
31 December 2011
Description
On 15 November 2010, GE Hungary announced plans to dismiss 2,100 employees by the end of 2011. The dismissals will mainly affect the site in Nagykanizsa, where 1,300 people will lose their job and the site in Vác, which will be closed during 2011.
Last year the company had announced the dismissal of over 2,570 employees by the end of 2011, but new investments and the relocation of production facilities have allowed the company to save almost 500 jobs. For example, the company has changed from traditional light bulbs to halogen light bulbs on their production lines.
In 2010, employee and employer representatives have been in negotiations regarding the dismissals. Since late 1989, GE Hungary has been one of the most significant multinationals operating in Hungary. Today all five GE core businesses are active in the country. Currently, GE is the largest U.S. investor ($1.1+ billion) and employer (14,000+) and one of the biggest exporters of Hungary.
Sources
15 November 2010: Menedzsment Fórum
15 November 2010: Heti Világ Gazdaság
Citation
Eurofound (2010), GE Hungary, Internal restructuring in Hungary, factsheet number 71236, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/71236.
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