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.
Scandinavian Airlines (SAS) announced a new cost-saving programme cutting 505 jobs in Sweden. Out of the 505 redundancies, 125 cabin crew employees and 380 administrative workers are concerned. Another 145 jobs are to be cut in other Scandinavian countries.
Like other European airlines, SAS, which primarily focuses on the European market, has been struggling with fierce competition from low-cost airlines. The cost-saving programme will cut costs by 20%. The Swedish government will provide one billion SEK (€99.6 million) to SAS. As of February 2010, there was no information on when the job losses will occur.
Eurofound (2010), SAS, Internal restructuring in Sweden, factsheet number 70153, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/70153.
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