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.
Finnish passenger airline company Finnair has announced to cut 200 jobs worldwide. Out of these, 120 people will be dismissed in Finland (Finnair-2022-FI). According to Finnair’s press release, the company needs additional savings to restore its profitability after the changes in the operating environment, including the reduction in air traffic, Russia's invasion of Ukraine and the closure of Russian airspace. The job reductions will not affect flight crew or other operational staff. Those who lose their jobs will be offered social support to facilitate their re-employment. In addition, the company plans to reduce the size of its fleet.
Finnair is a Finnish passenger air transport company partially owned by the Finnish state. The company employs around 5,300 people worldwide.
Eurofound (2022), Finnair, Internal restructuring in World, factsheet number 107555, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/107555.