Dunaferr layoffs suspended pending further talks

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Representatives from ISD Dunaferr and the National Economy Ministry met yesterday for a brief meeting to discuss the possibility of a government buyout of the company’s Dunaujváros steel plant and thus avoid thousands of potential layoffs.

Negotiating for the government, Economy Ministry State Secretary for Employment Sándor Czomba told media after the meeting the first round of layoffs would be suspended until further negotiations take place; another round of discussion was promised “in a few weeks.”

According to an MTI report, the government seeks “to take over a big part of [Dunaferr’s] HUF 150 billion in debt in exchange for equity in the company.”

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