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.
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.
Eurofound (2008), XL Leisure Group, Closure in United Kingdom, factsheet number 67084, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/67084.