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.
Some 2,604 jobs will be affected by the labour force adjustment plan at the Spanish airline Spanair which has recently filed for bankruptcy. Of the 2,604 employees, 2,343 are active employees and the rest are people who are employed by the company but currently not working e.g. due to special leaves. The job cuts will concern 967 members of the cabin crew, 401 pilots and 194 maintenance technicians, 379 general services staff, 175 customer services staff and 488 ramp staff. The company will resort to the salary guarantee fund (Fogasa) to pay dismissal compensation to redundant workers.
The company declared bankruptcy on the 27th of January after a deal with Qatar Airways, who were to buy 49% of Spanair's shares, failed.
Trade unions have called for the involvement of the Generalitat as first shareholder in Spanair and a first mobilization was scheduled for 9 February.
Eurofound (2012), Spanair, Bankruptcy in Spain, factsheet number 73067, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/73067.
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