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 Basic Metal And Fabricated Metal Products Manufacture Of Basic Metals 24.52 - Casting of steel
1,500 jobs Number of planned job losses
Announcement Date
9 August 2013
Employment effect (start)
15 August 2013
Foreseen end date
Description
ISD Dunaferr announced the dismissal of 1,500 employees in Hungary. According to the press, the company employed 7,522 employees (6,837 directly employed and 685 employed through agencies). The dismissals are part of the company's plan to improve and optimize groups operations.
The official dismissal procedure will start on 15 August 2013. The company is not profitable since 2008, nonetheless it expects to realize more profits next year following the current technical investments and HR rationalization.
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