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.
Management of Vienna Airport announced an annual personnel reduction of 2-3% of its workforce, thus making around 100 (up to 126) employees redundant in the first year.
The newly implemented 2-men management team made their plans public at their inaugural press conference on 20 September 2011. Their management plan foresees a reduction of costs of 10-15% and an increase in productivity of 20% until 2015.
The workforce is to be reduced through an immediate recruitment freeze and job reduction measures are to take form of natural attrition. Direct dismissals are only to be enforced if a sharp slump in growth occurs. This measure comes after Vienna Airport had increased its workforce from 4,000 to 4,200 after a recruitment announcement in September 2010 (see fact sheet 16644).
The management expects that until 2010, the number of passengers in Vienna will amount to 30 million (in 2011, over 20 million passengers are expected). Thus, more than EUR 600 million are to be invested in the airport by 2015. In June 2012, a new (third) terminal is expected to open.
Eurofound (2011), Vienna Airport, Internal restructuring in Austria, factsheet number 72405, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/72405.