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.
As announced on 15 June 2020, the German airline Condor plans to cut between 650 and 1,000 jobs due to internal restructuring. Condor's CEO, explained that the company might need to downsize 15 to 25% of all jobs, as the negative impact of the COVID-19 on air travel will probably last until 2024. Even the €550 million worth loan by the German government will not prevent job cuts.
There is no information available on the timeframe and the location of job cuts.
Condor has approximately 4,000 employees in Germany.
Eurofound (2020), Condor, Internal restructuring in Germany, factsheet number 101203, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/101203.