Type
Internal restructuring
Country
Hungary
Region
Location of affected unit(s)
Sector
Financial Services
Financial And Insurance Activities
Financial Service Activities, Except Insurance And Pension Funding
64 - Financial service activities, except insurance and pension funding

300 jobs
Number of planned job losses
Job loss
Announcement Date
9 April 2015
Employment effect (start)
Foreseen end date
31 December 2015

Description

Hungarian state-owned MKB Bank has launched a reorganization. 300 jobs will be lost by the end of 2015. Management positions in the company have already been cut by 30% since the beginning of the year. The Hungarian state acquired MKB from BayernLB last year. MKB Bankʼs after-tax loss grew to HUF 148.1 bln in 2014 from the previous year’s HUF 122.2 bln.


Sources

  • 10 April 2015: BBJ
  • 10 April 2015: Napi.hu

Citation

Eurofound (2015), MKB, Internal restructuring in Hungary, factsheet number 79224, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/79224.