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.
The business aviation services company Jet Aviation announced a restructuring plan, which will result in the loss of 200 to 300 jobs from a total of 1,600 currently employed.
The management has cited the strength of the Swiss-Franc and a reduction in orders as the main reasons for redundancies, which will mostly affect administrative staff and employees working in the fitting process. The implementation of the restructuring plan will begin in September 2011 and will be completed around mid-2012, according to management. Around 60% of the employees working in the Basel-Mulhouse Airport site of the company are French workers (crossborder workers) while some 20% of them are from Germany.
Jet Aviation is a Swiss company owned by the American company General Dynamics which employ around 5,100 employees to be able to cater client needs from 25 airport facilities throughout Europe, the Middle East, Asia and North and South America. The company provides a range of services including maintenance, refurbishing, engineering together with aircraft management, aircraft sales charter and personnel services.
Update on 22-09-11: according to recent media rerports, the implementation of the restructuring programme will be completed by the end of 2011 and not mid-2012 as originally announced.
Eurofound (2011), Jet Aviation, Internal restructuring in France, factsheet number 72311, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/72311.