• Home
• Channel: Business
• Coronavirus: Crisis Dismissals Affect 3% Of Workforce In Hungary

Coronavirus: Crisis Dismissals Affect 3% Of Workforce In Hungary

• 16 Apr 2020 8:35 AM
• Hungary Around the Clock

Downsizing caused by the epidemic crisis has led to the dismissal of about 3% of the total workforce in Hungary, according to a survey by ZRI Závecz Research and CAWI Services.

Another 8% of the 6,400 persons interviewed online at the end of March and early April reported that they had been sent on unpaid holidays.

In addition, 25% said there was a strong possibility that they would be sent on forced holidays with no income or that they would lose their job entirely soon.

Two-thirds of Hungarians expect to face financial losses during the crisis. In Budapest 60% think this, while the figure is 65% in villages and 78% in towns other than Budapest.

Only 2% had already drawn on their financial reserves but 40% had already postponed a large purchase.

Households generally believe that the lockdown imposed to counter the epidemic might ease in early June and that the epidemic itself may be over by the middle of August.

Among those who run businesses, 71% are certain that they will experience a fall in their income in the coming months.

• How does this content make you feel?
• I love it
• I like it
• I dislike it

• Workforce Unemployed Coronavirus

XpatLoop Media Partner

Hungary Around the Clock

Since 1995 Hungary Around the Clock has proven to be one of the most comprehensive sources of daily English-language news about Hungary. It covers ongoing domestic politics and foreign relations, as well as business and economic matters. For a free trial of HATC visit www.hatc.hu and click on 'Free Trial Subscription’.

Explore More Reports

2/3 of Hungarians Have Basic Expectation of Home Office

• 19 Apr 2024 2:05 PM

According to nearly two-thirds of Hungarian employees, working from home is a basic expectation in those areas where it is possible according to a survey conducted by Erste.



US Companies Form Third Largest Investor Community in Hungary - Details Revealed

• 23 Feb 2024 7:15 AM

Consultations on a 23 billion forint subsidy programme for corporate investments that boost Hungary’s level of self-sufficiency in the production of medical supplies have started, the Innovation and Technology Ministry said.



Hungary Enjoys Record Investments & Exports

• 1 Nov 2023 2:05 PM

New records in investments and exports “can now be taken for granted” for this year, the minister of foreign affairs and trade told parliament’s economic committee.



Hungary Now Top in CEE for Chinese Corporate Investments

• 17 May 2023 5:56 AM

Hungary has now become the “number-one destination in central and eastern Europe for Chinese corporate investments”, Foreign Minister Péter Szijjártó said in Ningbo.