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.
NetJets, provider of private aviation services, will let go of 128 Belgian and French pilots. The company claims that social security contributions in both countries are too high when compared with other countries.
Until recently, Netjets paid the social security contributions for all its pilots in England, as the European headquarters of the company is located there. The restructuring is motivated by a recent European law, which requires Netjets to pay social security contributions in the country of residence of its pilots.
Eurofound (2012), Netjets, Internal restructuring in European Union, factsheet number 74590, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/74590.