Hungarian pharmaceutical company Richter Gedeon has announced mass layoffs of more than 30 people over a 30-day period, the company announced in a statement on Monday.
Richter is quoted by MTI to have said that the planned reductions will affect pharmaceutical manufacturing, particularly active ingredient manufacturing.
Maintaining the competitiveness of active ingredient manufacturing is a serious challenge for pharmaceutical companies operating in EU countries, including Richter, according to the the company statement.
Richter said it has launched efficiency-enhancing projects, the primary goal of which is to increase the cost-effectiveness of production processes. The group layoffs are part of the successful implementation of these projects.
The Budapest Metropolitan Government Office has been notified of the mass layoffs, the company noted.
During the process, Richter is fully complying with relevant labor and other legal requirements, while paying special attention to the fair treatment of employees' rights and ensuring their possible continued employment, it added.
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