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.
Electricity supplier DÉMÁSZ announced the dismissal of 198 employees in two waves this year. The employees who leave voluntarly will receive higher dismissal compensation than the statutory minimum.
Sándor Demján, managing director stated the dismissal is a consequence of the recent austerity measures announced by the governement: service cost decrease by 10% for the users and the increase of several taxes connected to the service. Public utility taxes have been introduced and corporation tax has been increased to 50% (including 31% ’Robin Hood tax).
Employee representatives and the management have started consultations on social measures for the dismissed employees.
Eurofound (2013), EDF DÉMÁSZ, Internal restructuring in Hungary, factsheet number 75409, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/75409.