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.
Ryanair, the Irish budget airline, has confirmed its restructuring plans, which imply the redundancy of 336 pilots at its UK base at London Stansted Airport. The company is also proposing pay cuts and a reduction of terms and conditions for its remaining employees. Ryanair’s chief executive explained that the redundancies were 'unavoidable' as passenger numbers have fallen sharply in the wake of the COVID-19 pandemic.
A representative of the pilots’ union BALPA, commented that Ryanair’s decision to cut jobs was hypocritical, given that the company had accepted financial support from the UK government.
Ryanair was founded in 1984 in Ireland – the company, currently, has 19,000 employees and London Stansted Airport is its largest base.
Eurofound (2020), Ryanair, Internal restructuring in United Kingdom, factsheet number 100944, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/100944.
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