Linamar has applied for job preservation grants and made enormous efforts to secure more orders in order to prevent going through with the earlier announced layoff of 709 of its staff, Mr Ivanics said.
Linamar’s headcount is currently 1,450.
Linamar had revenue of HUF 31.7bn in 2008. Its automotive division generate 56pc of revenue and the farm and general machinery division accounted for 44pc.
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