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.
Professional Services Professional, Scientific And Technical Activities Other Professional, Scientific And Technical Activities 74.9 - Other professional, scientific and technical activities n.e.c.
New offshoring locations
United Kingdom
300 jobs Number of planned job losses
Announcement Date
1 December 2016
Employment effect (start)
1 January 2017
Foreseen end date
2 December 2016
Description
GE Current - a General Electric's startup subsidiary in the energy field, which combines hardware technology with software technology - announced a plan to cut 300 job positions in Hungary. The company notified the government about its restructuring plans and stated that they would negotiate with workersʼ unions and representatives. According to Index's article, it wll be unlikely that GE Current cnages its plans. Minister János Lázár's assured that affected workers will be helped by the national employment services. According to Index's articleGE Current is going to relocate its activities to London from Hungary.
GE is the largest American investor and employer in Hungary. The company has 9,000 employees in manufacturing and additional 1,500 employees in digital industry in Hungary.
Sources
1 December 2016: Index
2 December 2016: NRGreport
2 December 2016: BBJ
Citation
Eurofound (2016), GE Current, Offshoring/Delocalisation in Hungary, factsheet number 89287, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/89287.
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