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.
Administrative Services Travel Agency, Tour Operator And Other Reservation Service And Related Activities Travel Agency, Tour Operator And Other Reservation Service And Related Activities 79 - Travel agency, tour operator and other reservation service and related activities
1,700 jobs Number of planned job losses
Announcement Date
12 September 2008
Employment effect (start)
Foreseen end date
Description
XL Leisure Group, the UK’s third largest tour operator, has gone into administration and the company’s chairman Phil Wyatt has stated that the jobs of all 1700 UK-based staff are at risk. This will affect staff holding a variety of positions at different sites in the UK, from pilots and cabin crew to call centre staff. Staff at subsidiary company Travel City Direct have already been told to leave the company’s premises and to expect redundancy letters. The administrators, Kroll, have stated that they are attempting to find a buyer for all or part of the business, and the specifics of any rescue package will determine the final number of redundancies and when these will occur.
Sources
12 September 2008: The Financial Times
12 September 2008: The Guardian
12 September 2008: BBC News
Citation
Eurofound (2008), XL Leisure Group, Closure in United Kingdom, factsheet number 67084, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/67084.
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