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.
The Dutch airline KLM has announced 1,500 to 2,000 job cuts to cope with the impact of the coronavirus (covid-19) pandemic. The company's CEO announced in a video message on the company's website that these measures would primarily affect part-time employees, those nearing retirement and those leaving the company through natural attrition. The company believes that these measures should prevent further restrictive measures in the near future.
The Dutch airline, which merged with Air France in 2004, forecast a consistent decrease in flight numbers (20% less in March and 30 % less in April) as a consequence of the suspension of flights to virus affected countries.
Eurofound (2020), KLM, Internal restructuring in European Union, factsheet number 100031, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/100031.