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.
Irish airline Aer Lingus has announced proposals for 676 redundancies by the end of 2011. The redundancies are to occur on a phased basis, and most are expected to be of a voluntary nature; although the company has reserved the right to make workers compulsorily redundant if agreement with unions is not forthcoming. The airline currently employs 3,900, and, in recent years, its workforce has been subject to a number of restructuring plans. Unions have described the latest announcement as 'draconian' and 'savage and severe'.
As well as redundancies, Aer Lingus is also demanding average 10 per cent pay cuts for employees whose basic pay exceeds €35,000 a year. The airline has said that a reduced flight schedule and changes to work practices will lead to 489 redundancies in operational and support areas. The company said it is also seeking a further 187 redundancies from its back office and headquarters operations, reducing headcount at its head office by 40 per cent by 2011. The company released the following statement: 'While the board of Aer Lingus recognises that staff cost savings have been delivered across many areas of the business in previous years, an objective analysis shows that, operating costs and, in particular staff costs do not reflect current and expected trading conditions and are significantly out of line with peers. Therefore the proposed changes are necessary to better align operating costs with those of Aer Lingus' competitors'.
Eurofound (2009), Aer Lingus, Internal restructuring in Ireland, factsheet number 69688, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/69688.
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