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 low-cost airline company Ryanair plans to cut up to 351 positions in Spain, which will affect mainly crew members, but also pilots. The restructuring programme that intends to shed up to 3,000 jobs across Europe was announced to workers representatives; the decision is motivated by the impact of the COVID-19 crisis over the airline sector. The measure will be implemented together with cut of salary bonuses and salary reductions between 10% and 20% for at least 2 years, although the company is about to maintain these measures until 2025.
The entire workforce of the airline company in Spain is currently affected by a temporary lay-off plan. The company expects to recover to 40% of its pre-crisis activity in July 2020.
The unions have rejected the measure, demanding to be informed of the financial situation of the company and requesting employment protection measures.
This announcement comes after the National Court cancelled in April the collective dismissal of the 224 Ryanair workers at their bases in the Canary Islands.
Eurofound (2020), Ryanair, Internal restructuring in Spain, factsheet number 100742, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/100742.