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.
Ruefa, the Austrian travel company, announced job cuts across its agencies in Austria. One hundred employees were registered with the Public Employment Service (AMS). The company spokesperson confirmed the downsizing, but did not comment on the actual numbers. The COVID-19 crisis is at the origin of the decline in the tourist industry and the reason for the restructuring. In 2020, the company turnover dropped by 70%. Ruefa has around 100 travel agencies all over Austria and is owned by the Österreichisches Verkehrsbüro AG.
Eurofound (2021), Ruefa, Internal restructuring in Austria, factsheet number 103696, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/103696.