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.
The Hungarian unit of Vitesco Technologies – in Debrecen – continues to expand. At present, the site employs 100 people, but several hiring waves are to come in the near future. In the first half of 2020, mostly engineers and supporting personnel will be hired. Then, as the unit starts producing in the second half of this year, the share of the production workforce will grow as well. The staff is expected to reach its full size, 450 employees, by the end of 2021.
To ensure the supply of qualified professionals, Vitesco co-operates with the Debrecen university, especially with the mechatronics and the mechanical engineering faculties.
While Continental, the parent company of Vitesco, is in the process of a substantial global downsizing regarding its internal combustion vehicle parts production activities, the electromobility area is under development. The expansion of the Hungarian unit is part of this process.
Eurofound (2020), Vitesco Technologies Hungary, Business expansion in Hungary, factsheet number 99765, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/99765.