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.
Hungarian telecommunications company Magyar Telekom, subsidiary of Deutsche Telekom, is to cut 1,700 jobs. As announced the company has reached an agreement with the employee representatives on a restructuring plan envisaging job reduction measures in the following two years.
According to the sources the company announced support measures for the affected staff. The cost-cutting measure is in the framework of a corporate strategy plan aiming at enhancing its flexibility in a demanding market environment.
Eurofound (2014), Magyar Telekom, Internal restructuring in Hungary, factsheet number 77343, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/77343.