Restructuring events
European Restructuring Monitor (ERM)
The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
WKW Hungary, the Hungarian subsidiary of WKW Group, a German automotive supplier, has announced the closure of its plant in Győr, Hungary, resulting in 470 job losses. The shutdown is scheduled to begin on the beginning of September 2026 and will be completed by end of December 2026. The subsidiary will be dissolved without a legal successor.
The decision follows sustained order cancellations, a consequence of the automotive sector reeling from mounting challenges, making the continued operation of the plant unviable. Management has pledged to provide employees with monthly loyalty bonuses equivalent to half their monthly wages until production ends, in recognition of their good work performance.
Local authorities and the union have begun discussions about how to facilitate new employment opportunities for the workers made redundant.
Eurofound (2026), WKW Hungaria, Closure in Hungary, factsheet number 301022, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/301022.