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 Chemicals And Pharamceuticals Manufacture Of Basic Pharmaceutical Products And Pharmaceutical Preparations 21.10 - Manufacture of basic pharmaceutical products
500 jobs Number of planned job losses
Announcement Date
16 May 2017
Employment effect (start)
16 May 2017
Foreseen end date
Description
Israeli-owned pharmaceutical company Teva is laying off 500 employees within the next few months in its Gödöllő manufacturing plant near Budapest. The Gödöllő facility will operate in reduced capacity until the middle of 2018, when Teva will close it down or sell it if a buyer is found. The company promised support to those being let go in finding new employment. The Gödöllő decision is part of Teva's global streamlining-restructuring plan. Even after operations cease in Gödöllő, Teva will continue to employ more than 2,000 people in Hungary at its Debrecen and Sajóbábony facilities.
Sources
16 May 2017: vg.hu
16 May 2017: Napi.hu
Citation
Eurofound (2017), Teva Gyógyszergyár, Internal restructuring in Hungary, factsheet number 90993, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/90993.
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