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 12 December 2020, the Germany-based Wisag Ground Services and Wisag Passage Services will be cutting 225 jobs at Frankfurt airport in 2020 due to internal restructuring. According to information from the United Services’ Union (verdi), all affected employees will receive compulsory redundancies. Wisag justifies its decision with the massive decrease in air traffic caused by the COVID-19 crisis. According to management, cuts are inevitable and a comprehensive social plan was offered to ease affected employees. However, the works’ council rejected that offer. The trade union has criticised the decision, arguing that short time work schemes could be used instead of dismissals. The letters of dismissal are expected to be sent just before Christmas.
Wisag has currently 850 employees at Frankfurt airport.
Eurofound (2020), Wisag, Internal restructuring in Germany, factsheet number 102917, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/102917.