On November 7, state secretary for employment Sándor Czomba said that Dunaferr’s management had confirmed plans to lay off 400 workers, well under the 1,500 redundancies announced in August. Czomba also said on November 7 that the government scrapped plans to buy Dunaferr, and acknowledges that the management of ISD Dunaferr is interested in the company’s long-term stable operation, rather than its sale.
The government will try to offer the company and its employees assistance in other areas, he said.
The government announced in August that it would make a buyout offer for ISD Dunaferr after the company said it would lay off 1,500 of its 5,000 workers. The company’s CEO, Evgeny Tankhilevich, later said Dunaferr appreciated the government’s aim to assist, but not through a buyout.
Producing journalism that is worthy of the name is a costly business. For over 30 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.
