Synergon in major restructuring push – Napi Gazdaság

Food

Hungarian IT company Synergon is to carry out a major restructuring involving lay-offs by the end of this year in order to focus on profitable operations; recently appointed CEO Zoltán Jutasi hopes to see savings of HUF 1bn and profits next year, business daily Napi Gazdaság said on Thursday.

In an interview with the paper, Jutasi said the plan is to divest or outsource operations and projects that do not yield profits.

The group is to have revenue exceeding HUF 20bn this year, and fixed costs are expected to be cut by almost HUF 1bn annually. The CEO would not provide specific numbers for the planned lay-offs, but indicated that "the review of costs entailed by the restructuring is far from over with that".

Jutasi said the company will definitely not have losses in 2012. Synergon will try to compensate by expanding in the private sector and abroad for the decline in public sector orders.

SUPPORT THE BUDAPEST BUSINESS JOURNAL

Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.

Support the BBJ

Gastronomy