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.
Employees of State-owned airport management company, Dublin Airport Authority, have voted a restructuring plan entailing 275 permanent and 100 temporary job losees at Dublin, Cork and Shannon airports. The plan also includes a pay freeze until 2011. In an attempt to avoid pay cuts, the plan will also lead to the introduction of a novel Employee Recovery Investment Contribution scheme with staff facing pay reductions of on average 5.5 per cent from February 2010. Under the scheme employees will invest a percentage of their earnings and will recoup the money after three years or when the company is restored to profitability.
The DAA is confronted by significant falls in passenger traffic and commercial income. The State-owned company expects "minimal passenger growth" up to 2011.
Eurofound (2010), Dublin Airport Authority, Internal restructuring in Ireland, factsheet number 70097, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/70097.