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.
On the 27th of July, the Central Works Council of the airline company Air France has announced to cut 80 to 85 jobs without direct dismissal. This represents a cut of over 30 per cent of its workforce as part of a recovery plan to reduce its losses (7.5 million euro in 2010). The council currently employs 265 employees. The redundancies will come into effect through natural attrition and the non-replacement of retiring personnel. Early retirement will also be proposed. Therefore, the workforce decrease will take place within three years, from September 2011 to 2014.
Additionally, the Central works council decided to sell some touristic resorts used by the workforce of the company to spend their holidays to consolidate its finances.
Eurofound (2011), Comité central d'entreprise Air France, Internal restructuring in France, factsheet number 72621, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/72621.