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.
In April 2003, Lufthansa announced that it has to reduce costs due to the crisis in the aviation sector. Nevertheless, there was no workforce reduction announced until October 2003. In the meantime a cost reduction programme was launched including the reduction of working time and capacity. Beginning of October 2003, Lufthansa announced plans to cut 2,000 jobs in Germany within the next years. The planned workforce reduction represents 3.4% of its 59,000 employees in Germany and 2.1% of its 94,000 employees worldwide. About 1,000 jobs are likely to go at the LSG Sky Chefs catering division, while other units affected include cargo and property management.
Sources
10 October 2003: Lufthanseat - Interview Manfred Calsow
31 March 2003: Financial Times Deutschland
29 April 2003: Lufthansa - Press release
25 March 2003: Lufthansa - Press release
Citation
Eurofound (2003), Lufthansa Deutschland AG, Internal restructuring in Germany, factsheet number 59726, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/59726.
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