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.
German air carrier Lufthansa will implement a cost saving programme to compensate for a decline in customers. On 2 October 2009 the United Services Union ver.di published a press release informing that 400 administrative full-time jobs will be cut by 2012. However, no precise information is given by Lufthansa. All media news on Lufthansa's planned job cuts rest on FAZ information which is based on two internal Lufthansa notifications to the staff. According to FAZ, Lufthansa announced the reduction of 400 administrative jobs last summer and informed the management of plans to cut 270 jobs at the Cologne headquarters in September. Most job cuts will be implemented through natural fluctuation and direct dismissals will be avoided. Additionally, FAZ reports plans to reduce labour costs by cutting salary components and unpaid overtime work.
Eurofound (2009), Lufthansa, Internal restructuring in Germany, factsheet number 69664, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/69664.
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