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.
Jet Aviation, one of the world's four leading private aircraft maintenance companies, announced a reorganisation with 300 job cuts at its facility located at Basel-Mulhouse Airport (EuroAirport). The airport is located in an area straddling the French-Swiss border. The main part of the Airport in located at Saint-Louis (France).
The company, which employs nearly 1,200 people at the EuroAirport site, explained that 'it has entered a phase of evaluating potential actions to adapt the company's structure in order to maintain its health and financial stability'.
Management blames this reorganisation on the disruptions related to COVID-19, which led to a rapid decline in the company's business volume. Jet Aviation had deployed a variety of measures to limit the impact of the pandemic, such as reducing working hours or cutting certain expenses, in addition to the necessary adaptation of the facility to the new health constraints. However, these measures were not sufficient, according to management, which decided to lay off some of the employees at the Basel-Mulhouse facility. During the consultation phase with Jet Aviation's employees, the number of employees affected by this wave of dismissals is not yet known. However, the management does mention the maximum number of 300 job cuts that will be implemented in June.
Former reorganisations were recorded in the past: between 270 and 300 job cuts in 2012; 200 job cuts in 2011 but 500 recruitments in 2007.
Eurofound (2020), Jet Aviation, Internal restructuring in France, factsheet number 100715, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/100715.
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