Dunaferr: Hungarian government gives up on purchase

The Hungarian government has taken note of ISD Dunaferr’s management being interested in the long term stable operation of the steel marker instead of its sale. Accordingly, it will try to offer assistance for the company and its employees in other areas, Steel Guru reports.

Steel Guru said, the management of Dunaferr has confirmed its plan to lay off 400 employees, said Sándor Czomba, state secretary in charge of employment policy, after meeting the company’s management and the representatives of labour unions in Dunaújváros today. This, he stressed, is a major change compared to original plans of 1,500 job cuts.