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.
Közgép, a construction and metal structure manufacturing company, has announced that the company will lay-off 350 employees, half of its staff. The job losses will affect 283 administrative positions and 67 blue-collar jobs. According to the official announcement of the company the reason for the restructuring is the decline in the civil engineering sector. It may be a relevant fact to consider that the Hungarian Public Procurement Board prohibited Közgép from participating in public tenders for the next three years in July of 2015.
Eurofound (2015), Közgép, Internal restructuring in Hungary, factsheet number 85208, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/85208.