It seems that Audi Hungaria is “downsizing” and based on employee data thousands of positions will be eliminated. According to press reports Audi is not renewing the contracts of 1,200 fixed-term employees at the Győr plant. The Trade Union said: “So far, it has been about not renewing the contracts of employees…. When someone signs a fixed-term contract, it is clear that renewal after termination is never guaranteed.”
Audi Hungaria celebrates the production of its 500,000th car in this file photo.
The Minister of Foreign Affairs and Trade Péter Szijjártó sees it differently and hit a more positive note. He announced that Audi Hungaria is doing just fine and will increase engine production next year. “They plan to manufacture 2.25 million engines next year, and so far 2 million has been the annual record,” Szijjártó said. Audi officials declined to comment on the minister’s statement. Another spin on the layoff rumor is that Audi is “not laying off staff but responding to market patterns by reducing the number of employees.” Hmm.
Germany’s car industry is in a serious downturn and major “restructuring” is expected at the Hungarian unit. Audi is the backbone of the Hungarian industrial production and the layoff will have a negative effect on the country’s GDP growth.
Hungary’s government-controlled media pushes positive news. When Minister of Finance Mihály Varga recently warned that an economic slowdown will reach Eastern-Europe shortly and it will be deeper than expected, Orbán confidant and National Bank of Hungary governor György Matolcsy took issue with his remarks. He assured his audience that under Prime Minister Orbán’s leadership the “Golden Age” of Hungarian economy will continue. Amen.
György Lázár
Audi news is just a glimpse of the wider EU economic fiasco unfolding, mostly due to unwise policies of the last few decades. Mostly policies that progressive-liberal-globalists like those running this site have been praising. The Audi news has nothing to do with Hungary doing anything wrong, and everything to do with Hungary being in the unfortunate historical/geographic position that made it inevitable together with its peers to end up being captured by the Western suicide cult intent on self-destruction. As if decades of the Marxist experiment nightmare (workers utopia) was not enough!
But at least Hungary is entering this crisis in a solid economic shape, thanks to progress made in the past years on reducing debt/GDP, as well as the FX portion of it, keeping deficits in check. Economic dynamics have been shaped into a far more resilient unit.
News out of Romania by comparison not as good. Deficits have gone out of control, even as economy slows. Unlike Hungary, they did nothing to shore up domestic capital, or to open up new relationships outside dying EU economy. Deficits of 6% or higher are forecast for Romania, even as Hungary’s deficits are set to hit 1% next year. Slovakia’s economy also slowed to a crawl, even as Hungary posted highest rate of growth in EU according to latest EU data:
https://ec.europa.eu/eurostat/documents/2995521/10075412/2-14112019-AP-EN.pdf/c29b43ca-1bc8-d863-cbcd-31cc05068ddf
Unlike 2008, Hungary is entering this one in far more solid shape. Shame that Hungary’s economy is so heavily tied to the world’s sick man, but that was really unavoidable from a historical point of view. Glad that Orban worked in past years to shore up domestic capital, as well as relations with non-EU countries, otherwise dependence on EU would be even worse.
Again, consider the source:)
The “Golden Age” oh dear, golden age would have been for me if Hungary’s arts could have been admired today, if all of Europe had come to Budapest to take part in theatrical performances, if schools had slowly introduced improvements, if sick people were not divided into first and second and third class, if the trade unions had been allowed to develop against repression … if there had been a build-up at the level of 2010 … that would have been maybe the golden age … Hungary was promising openly vital sympathetic. But Orbán has decided to go back to 1948 or more?
Today, the workers who have been touched by the grace of the incarnate and must do as they are told. They have been raised to slaves by the educational system, a country full of slaves perhaps Orbán who has the monopoly on knowledge has an idea.
„Another spin on the layoff rumor is that Audi is “not laying off staff but responding to market patterns by reducing the number of employees.” Hmm.“