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 13 December 2016, Lufthansa Technik, subsidiary of German air transport company Lufthansa announced to close its site in Hamburg by the end of 2017. A total of 300 out of 400 employees, which are working at the site, are affected by this measure. The management ensured that there will not be any direct dismissals. According to Lufthansa Technik, other jobs within Lufthansa Technik or partial retirement will be offered to every affected employee.
The affected site is responsible for aircraft overhaul. The company announced to have these tasks done at other sites like Budapest, Sofia, Shannon, Manila, in Malta and Puerto Rico.
Lufthansa Technik reported about the high cost pressure in Hamburg but negotiations with the United Services Union (ver.di) about a reduction of costs failed.
Already in July 2016, Lufthansa Technik cut 700 jobs in Hamburg, see (Lufthansa Technik, 2016). Lufthansa Technik, headquartered in Hamburg, currently employs 7,500 staff in Hamburg.
Eurofound (2016), Lufthansa Technik, Closure in Germany, factsheet number 89711, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/89711.
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