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Grundfos awarded HUF 183 million job preservation subsidy

Danish pump and motor maker Grundfos has been awarded a HUF 183 million subsidy from the National Employment Fund to support wage payments for 1,500 workers at its plants in the Hungarian cities of Tatabánya and Székesfehérvár, HR director for the company's local unit Andrea Kocsis-Lázár told MTI on Wednesday.

The subsidy is for the period between March until the end of May, when Grundfos reduced base wages by 20% after introducing a four-day work week, Kocsis-Lázár said.

Grundfos will introduce a 36-hour work week from June 1 until the end of August.

Grundfos's Hungarian unit generated revenue of HUF 13.5 billion in 2007. (MTI-ECONEWS)