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.
Swedavia, a company that runs ten of the largest airports in Sweden, plans to carry out a major part of the redundancies of the 800 full-time positions that were announced for in March 2020. The planned redundancies will be carried out during the second half of 2020. This is announced in Swedavia´s latest interim report from July 2020.
The planned job cuts are a direct consequence of the COVID-19 pandemic. The aviation industry is one of the most affected industries and traffic at Swedavia's airports had decreased by 97% during Q2 2020 in comparison to same period last year. Swedavia expects the effects of the pandemic to be long-lasting.
According to the latest interim report that was published in July, Swedavia's lost revenue was SEK 500 million (€50 million) a month during the second quarter of 2020. In June 2020, the company received a SEK 3,15 billion (€300 million) capital injection from the state.
Swedavia is a state-owned enterprise and employs a staff of 3000.
Eurofound (2020), Swedavia, Internal restructuring in Sweden, factsheet number 101974, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/101974.