In central and eastern European countries, privatization, which was ex
pected to serve as a catalyst for other structural transformations (es
pecially in work and employment), channeled all the energy initially p
ut into structural reforms. Eight years later, the question can be ask
ed : how has the world of work actually changed? Changes in several as
pects, both formal and informal, of the employment relationship (labou
r exchange, labour use (production), labour regulation) are assessed i
n the Hungarian case. After presenting the Socialist heritage as well
as the objectives formulated at the start of the transition and the re
sults obtained since then, the attempt is made to discern future trend
s in the employment relationship in Hungary.