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 German tourism company Tui Deutschland will be cutting 450 jobs within the next two and a half years due to internal restructuring. An exact distribution of cuts has yet to be published, but management confirmed that a large portion of cuts will take place in Hannover. Management considers the job restructuring inevitable due to optimised processes in automatisation and digitalisation. Tui intends to exclude compulsory redundancies and will negotiate voluntary programmes and early-retirement programmes.
Currently, Tui has 4,300 employees in Hannover.
Eurofound (2019), Tui Deutschland, Internal restructuring in Germany, factsheet number 98163, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/98163.