Type
Internal restructuring
Country
Austria
Region
Location of affected unit(s)
Vienna and Salzburg
Sector
Hotel / Restaurants
Accommodation And Food Service Activities
Accommodation
55.1 - Hotels and similar accommodation

140 jobs
Number of planned job losses
Job loss
Announcement Date
15 September 2020
Employment effect (start)
15 September 2020
Foreseen end date

Description

The hotel group Sacher has dismissed 140 employees, 105 in Vienna and 35 in Salzburg. The rest of the staff is still on short term work. The company expects this year's turnover to reach only around 25% of the previous year. Like the rest of the tourism, hotels have been heavily affected by the COVID-19 health crisis. The minister for finance has invited the CEO and EU representatives to argue for further subsidies. The minister wants to allow for another grant for overhead costs, yet the implementation remains in need of approval by the European Commission.


Sources

Citation

Eurofound (2020), Sacher, Internal restructuring in Austria, factsheet number 101828, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/101828.