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 German low-cost airline Eurowings plans to cut 300 administrative jobs in Germany due to internal restructuring. According to the company, the reduction is necessary to reduce costs in order to counteract the effects of the COVID-19 crisis and associated travel restrictions. There is no detailed information on the redundancy plan.
Currently, Eurowings has 4,000 employees. Eurowings is a subsidiary of German airliner Lufthansa. Both airlines suffered heavy losses due to the COVID19-pandemic. Parent company Lufthansa even negotiated a bailout package with the German Federal Government (worth €9 billion).
Eurofound (2020), Eurowings, Internal restructuring in Germany, factsheet number 101174, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/101174.