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.
London City airport has announced a restructuring plan, leading to 239 jobs, more than a third of its workforce, being cut. Consultation with the affected staff members have already started.
The airport’s chief executive said difficult decisions had to be made to 'enable the airport to bounce back in a better shape' when air travel returns to its normal levels after the COVID-19 crisis.
London City airport is situated in east London and serves a largely business clientele. The airport was closed for three months in the spring, after reopening in late June, it is now operating only a few routes. Most staff were on the Coronavirus Job Retention Scheme, which comes to an end in October.
Eurofound (2020), London City Airport, Internal restructuring in United Kingdom, factsheet number 102025, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/102025.