Hungarian Ministry of Finance faces potential mass layoffs

The Hungarian Ministry of Finance is reportedly preparing for an extraordinary staff meeting on Monday, which may include the announcement of mass layoffs. According to reports, the workforce reductions could affect between 20% and 25% of employees in certain specialized areas, specifically within the budget department.

The Ministry has not officially confirmed these reports. The potential downsizing could be driven by personnel changes or as part of a broader government austerity package. This follows a previously announced 300 billion forint government tightening measure. If the layoffs are part of this austerity plan, vacant positions may not be refilled in the short term.

Finance Minister András Kármán has previously stated that the ministry aims to save an additional 300 billion forints by the end of the year to address budget deficits caused by campaign spending and unfavorable state contracts.