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Dunaferr Decides not to Layoff Workers

Steel News - Published on Fri, 14 Feb 2020

Image Source: Dunaferr Hungary
Duol.hu reported that Hungarian steelmaker ISD Dunaferr has scrapped plans to lay off 350 workers. Duol.hu said management and union leaders had reached a compromise at talks this week. László Molnár, who heads the union at Dunaferr, told Duol.hu that there would be no layoffs at Dunaferr until December 31, 2020. Dunaferr had said in October that it would make the layoffs because of the crisis dragging on in the European steel industry.

Dunaferr had 4,561 employees at the end of 2018

Dunaferr is one of the largest industrial producers in Hungary. Hot rolled, pickled, cold rolled, galvanized strips and sheets, as well as open and hollow steel sections produced by Dunaferr are used primarily for the manufacturing of engineering, automotive and construction industrial products, as well as for the production of steel structures, household appliances and other parts. Significant part of sales revenue is realized from foreign markets, key partners are Germany, Poland, Austria, the Czech Republic, Slovakia and Italy.

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Posted By : Yogender Pancholi on Fri, 14 Feb 2020
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