20 October 2011
Elcoteq is a global contract manufacturer of electronic equipment headquartered in Luxembourg. While the origins of the company are in Finland where Elcoteq was founded in 1984, the established production sites in European as well as non-European countries. Until 2008 the European centre of the company was based in Pecs/Hungary before it was relocated to Luxembourg in 2008. The conversion of the company into an SE was announced already in 2004 and came into effect in 2005.
08 March 2011
The European Company Statute (SE) is based on the Council Regulation on the Statute for a European Company (2157/2001/EC) and on the Directive supplementing the Statute for a European Company with regard to the involvement of employees (2001/86/EC). It is one of the most important pieces of company legislation published so far by the European Union. Adopted in 2001, it has since October 2004 made it possible for companies operating in more than one EU Member State to reorganise their cross-border business under a single European label. This enables them to work under the umbrella of a single legal framework, thereby reducing the internal costs of operating in several countries. Employee involvement, including participation rights at board level, is the focus of this research report.
22 April 2010
Having broken the customary practice of changing taxation rules in the autumn, to coincide with the debates on the budget for the following year, Hungary’s tax law amendments in 2009 were passed by the parliament as early as June. This legislation includes a number of key changes as follows.
15 March 2010
From January to September 2009, researchers at the University of Pécs (Pécsi Tudományegyetem, PTE ) conducted a research project to examine the future of employment partnerships. The research was supported and commissioned by the National Employment Foundation (Országos Foglalkoztatási Közalapítvány, OFA ). The main aims of the research were to:  http://www.pte.hu/  http://www.ofa.hu/
04 February 2010
In the autumn of 2008, Hungary’s Ombudsman, Máté Szabó, launched a comprehensive review of the country’s Strike Act. The review is seeking to enhance the enforcement of the basic right to strike , as provided for under the Constitution, and to develop strike law practices. In more recent years, strikes and related debates have underlined how the relevant rules have become obsolete and vague. The results of this review, which were presented at a conference in October 2009, are summarised here.  www.eurofound.europa.eu/ef/observatories/eurwork/industrial-relations-dictionary/right-to-strike
09 November 2009
The steelworks company ISD Dunaferr , with its headquarters in the city of Dunaújváros in central Hungary, is a prominent enterprise in the Hungarian steel industry and one of the largest manufacturing companies in the country. The history of the company’s predecessor, Danube Metalworks (/Dunai Vasmű/), is tied to the period of industrialisation in Hungary’s socialist era, as well as to the building of Dunaújváros in the 1950s – at that time, both the company and town were named after Joseph Stalin, the former leader of the Soviet Union. The company’s recent history dates from 30 September 2004 with the signing of a privatisation contract between the former Hungarian Privatisation and State Holding Company – currently the Hungarian State Holding Company (Magyar Nemzeti Vagyonkezelő Zrt, MNV ) – and the Ukrainian-Swiss Donbass-Duferco Consortium, headquartered in the Ukraine. Under this contract, the consortium acquired about 80% of the company’s shares and pledged to undertake immediate recapitalisation, invest in the company, assist small regional development projects and preserve at least 7,005 jobs for a minimum of five years. At that time, the company employed 9,000 people, and employees acquired 5% of company shares, practically free of charge. Subsequently, Donbass-Duferco bought the remaining 15% of shares owned by the city of Dunaújváros.  http://www.dunaferr.hu/english/index.html  http://www.mnvzrt.hu/
09 November 2009
In 2006, Hungary’s parliament passed, with an overwhelming majority, the draft laws on the National Interest Reconciliation Council (Országos Érdekegyeztető Tanács, OÉT) and the sectoral social dialogue  committees (Ágazati Párbeszéd Bizottságok, ÁPB). However, the President of Hungary, László Sólyom, submitted these laws to the Constitutional Court (Alkotmánybíróság, AB ) for a review of their constitutionality, claiming that the co-determination  right of social partners constitutes public power to which these interest representation organisations are not entitled (*HU0701039I* ).  www.eurofound.europa.eu/ef/observatories/eurwork/industrial-relations-dictionary/social-dialogue  http://www.mkab.hu/  www.eurofound.europa.eu/ef/observatories/eurwork/industrial-relations-dictionary/co-determination  www.eurofound.europa.eu/ef/observatories/eurwork/articles/president-refers-draft-laws-on-social-dialogue-to-constitutional-court
04 October 2009
The Hungarian government has introduced a number of legal amendments, as of 1 June 2009, in an effort to alleviate the employment consequences of the ongoing economic crisis. The amendments pertain in particular to the working time rules in the Labour Code and to the law on ‘orderly labour relations’, which stipulates the criteria for the exclusion of companies from state subsidies and public procurement, which came into force in January 2006 when the government placed particular emphasis on fair and declared work.
24 September 2009
MALÉV Hungarian Airlines  has experienced a turbulent time in recent years. The Hungarian registered company AirBridge Zrt. acquired 99.9% of M  ALÉV in a privatisation tender in February 2007 (*HU0707019I* ); in turn, AirBridge has been principally controlled by a Russian businessman, Boris Abramovich, the head of the former Russian airline alliance AiRUnion. Early in 2009, changes took place in this ownership structure following the bankruptcy of AiRUnion in 2008. The AirBridge shares of Mr Abramovich were transferred to Vnyesekonombank , Russia’s third largest bank. On 18 March 2009, the Russian state-owned Vneshekonombank took control of the minority stake of 49% in AirBridge, which holds the shares of the struggling MALÉV airline. The majority share of 51% remains under Hungarian private ownership.  http://www.malev.hu/  http://www.malev.hu/  www.eurofound.europa.eu/ef/observatories/eurwork/articles/dispute-at-budapest-airport-resolved-after-strike  http://www.veb.ru/en/
12 July 2009
Parallel to the exceptional economic crisis management meetings (*HU0901019I* ), the National Interest Reconciliation Council (Országos Érdekegyeztető Tanács, OÉT) carried out its customary task of negotiating the national minimum wage and making recommendations for the annual wage hikes in the private sector. Between 9 October and 12 December 2008, wage bargaining was on OÉT’s agenda nine times, which indicates how extremely stretched negotiations were over time. Due to the deepening economic crisis, the government had to revise the budget proposal three times during the autumn of 2008, with its initial proposal being entirely withdrawn.  www.eurofound.europa.eu/ef/observatories/eurwork/articles/series-of-national-summits-called-to-tackle-economic-crisis