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.
On 30 March 2012, Lufthansa Technik announced to cut some 276 jobs at it site at the Euroairport of Bâle-Mulhouse (350 employees). The management has announced the restructuring plan to its works council and started the information and consultation process. Redundancies will affect employees between May and December 2012. However, the precise number of redundancies will be disclosed by the end of April or beginning May.
The management has justified the restructuring with the need to tackle overcapacities and cut down the high maintenance costs due the high level of the Swiss currency (Swiss Franc) against the euro.
The site belongs to the German group Lufthansa Technik (26000 employees in the world) that has a turnover of 4,1 billion euros.
Update: 16 May 2012. The management has announced to dismiss 222 emloyees instead of 276 as the group has planned in March 2012.
Eurofound (2012), Lufthansa Technik, Internal restructuring in France, factsheet number 73433, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/73433.