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 launch a voluntary departure plan which would affect 1,500 employees. The plan will be implemented from January 2010 until December 2011. The voluntary leaves will affect mainly the company's cargo operation, which suffers from the steep decline in global trade. The plan has been presented to employee representatives, and negotiations will start this week with a view to presenting a draft plan to its European works council on 21 October 2009.
Apart from voluntary departures, the company may also implement short-time working schedules in order to cope with the financial crisis. Like other airlines, Air France is adapting operations to the deterioration in traffic amid the economic slowdown and to heightened competition from high-speed trains and low-cost carriers.
Eurofound (2009), Air France-KLM, Internal restructuring in France, factsheet number 69509, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/69509.