MÁV announces 30% staff cut
State railway company MÁV Zrt will cut 30% of its workforce of 8,568 by 2007, deputy chief executive István Heinczinger said on Friday.
Most of the cuts will be among the company's administrative staff, he said. Other measures will include selling off MÁV's freight division as well as spinning off its asset management and maintenance divisions at the start of next year, he said.
An annual Ft 80 billion will be available for railway developments during the 2007-2013 European Union budgetary period, Heinczinger said. MÁV aims to have all modern rolling stock by the time the rail passenger market is deregulated in 2012.
Speaking at a ceremony to mark Railway Workers' Day on Friday, Economy and Transport Minister János Kóka asked MÁV employees to support the government's plan to reform the country's rail system. Kóka addressed the rail workers only days after plans were unveiled to discontinue passenger services on some infrequently traveled routes and carry out massive staff reductions.
ADVERTISEMENT
Bourse Turnover Reaches HUF 181 bln in November
India's G20 Presidency, Dawn of New Multilateralism - Narend...
Production Resumes at Ganz's Szolnok Plant
TikTok Commits to Improved Consumer Communication in Hungary
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.
