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.
Low-cost airline company Ryanair announced the closure of its bases in the following four airports: Girona, Tenerife South, Gran Canaria and Lanzarote. The decision is expected to affect 512 employees in the roles of cabin crew and pilots. More specifically, the job losses are distributed as follows: 164 employees in Girona, 156 in Tenerife, 110 in Gran Canaria and 82 in Lanzarote. According to information released by the trade union USO, the company plans to conclude the restructuring event by 8 January 2020.
According to the company, the closures derive from delivery delays of new Max aircraft, effects from a potential no-deal Brexit and a 41% profit decrease for the first four months of 2019 with respect to two years ago. On the contrary, trade unions USO and Sepla claim that the closures were announced just after they called for a 10-day strike in September to avoid the closures themselves.
Updated, 16/10/2019:
As the company presented a labour adjustment plan on 15 October, the number of employees affected by the collective dismissal is reduced to 432, of which 327 cabin crew and 105 pilots. Negotiations between the company and trade unions will begin between 25 and 30 October.
Updated, 29/04/2020:
The National Court has cancelled the collective dismissal of the 224 Ryanair workers at their bases in the Canary Islands. This cancellation obliges Ryanair to readmit them immediately with the same conditions and paying them the salary of all the months after the dismissal.
Eurofound (2019), Ryanair, Closure in Spain, factsheet number 98458, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/98458.
Eurofound’s ERM restructuring legislation database offers an overview of key restructuring-related regulations in the EU Member States and Norway. Its content is continuously updated to reflect any changes made by national legislators in response to, for instance, policy shifts, legal...
Can Europe still achieve its ambitions for battery manufacturing? To answer this, the article looks at data from Eurofound’s European Restructuring Monitor and explores what recent large-scale restructuring events reveal about the state of play in the EU battery sector.
This working paper offers a comprehensive methodological overview of the European Restructuring Monitor (ERM) databases. Even though the methodology has not changed over time, new categories have been added, and the way it has been used by researchers and policymakers...
This Eurofound research paper explores key trends in restructuring in recent years, highlighting the companies that announced the largest job losses and job gains in the EU. It builds on an analysis of company announcements recorded in Eurofound’s European Restructuring...
In 2023, thousands of workers in big tech lost their jobs. Meta, Amazon, Google, Apple, Microsoft and Salesforce had been considered to offer good and secure jobs up to this point. Giants of the information and communication technology (ICT) sector,...
In 2024, the automotive sector in the EU came to the fore in public and policy discussions. The focus was on the slowdown in electric vehicle (EV) sales, rising global competition, belated investments in new technologies, and the potential closure...
