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.
Air France-Klm is to cut 3,000 jobs by the end of 2011. The Financial Year 2008-9, presented on 19 May 2009, showed a net loss of EUR 814 million. The loss is mainly due to the declining performances registered in the fourth quarter and linked to the recent economic crisis. Business traffic and cargo were especially affected. For this reason, the company decided a further cost-saving plan that envisages further 3,000 job-cuts by the end of 2011. The workforce will be reduced by economic incentives for early retirement, recourse to part-time and telework contracts and the non-replacement of staff.
Eurofound (2009), Air France-KLM, Internal restructuring in European Union, factsheet number 68950, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/68950.