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.
The airline Transportes Aéreos Portugueses's (TAP) purchase of Companhia Portuguesa de Transportes Aereos SA (PGA) is to lead to job losses for 220 of PGA's employees. The takeover will affect about 30% of the PGA’s workers. Out of a total of 746 workers at PGA, 475 will remain in the company while 51 will be contracted by TAP. Most of these 51 workers will be cabin crew and also pilots and maintenance workers. The collective dismissal of the remaining 220 workers was initiated by Portugália on the 9th of July. Of these employees, 141 worked in Portugal, corresponding to 30% of the company’s workforce, and the others worked in Spain, France and Italy. This process is being strongly opposed by trade unions who claim that workers will see their rights damaged, in terms of wages, seniority benefits, and other terms and conditions. PGA is to hire a company specialising in outplacement in order to support the workers to be dismissed in finding a new job.
Sources
10 July 2007: Jornal de Notícias
Citation
Eurofound (2007), Companhia Portuguesa de Transportes Aereos SA (PGA), Merger/Acquisition in Portugal, factsheet number 65612, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/65612.
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