Restructuring events
European Restructuring Monitor (ERM)
The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
Ground service company Swissport Finland has initiated co-operation negotiations over anticipated dismissal of up to 700 employees working at the Helsinki-Vantaa airport located in the capital area. The co-operation negotiations cover all employee groups except for passenger services.
Swissport Finland is currently negotiating for a new contract with Finnish passenger airline Finnair. If the negotiations do not result in a new contract, Swissport Finland will need to make significant redundancies since approximately 85% of Swissport Finland’s revenue comes from Finnair.
According to the company, estimating the final number of redundancies is difficult as the future of passenger air traffic is unclear due to the COVID-19 pandemic. The COVID-19 pandemic has cut the revenue of Swissport Finland by 90% and the company has temporarily laid off 90% of its employees. Finnair, the most significant client of Swissport Finland, recently announced its plan to reduce up to 1,000 employees.
Swissport Finland has 1,350 employees. All of them work at Helsinki-Vantaa Airport located in the capital area of Finland.
Eurofound (2020), Swissport Finland, Internal restructuring in Finland, factsheet number 101564, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/101564.
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