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News

Appliances maker Electrolux to close Hungarian factory
Swedish appliance manufacturer Electrolux has announced it will close its factory in Jászberény, Hungary, by the end of 2026, with around 600 jobs affected. The site produces built-in and freestanding refrigeration products, and the decision forms part of the company's wider restructuring efforts to reduce costs. 

Electrolux said the move reflects a challenging competitive environment marked by stagnant market demand, sustained price pressure and rising constraints on cost competitiveness. The announcement highlights the continued pressure on European manufacturers to streamline operations and adapt production footprints in response to weaker demand and intensifying market competition. 

As a financial result, Electrolux will record a SEK 0.6 billion ($65.6 million) restructuring charge in the second quarter, of which SEK 0.3 billion is cash-related.

More on this story at Global Banking & Finance
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