Type
Internal restructuring
Country
Germany
Region
Location of affected unit(s)
Sector
Transportation / Storage
Land, Water And Air Transportation
Air Transport
51 - Air transport

650 - 1,000 jobs
Number of planned job losses
Job loss
Announcement Date
15 June 2020
Employment effect (start)
15 June 2020
Foreseen end date

Description

As announced on 15 June 2020, the German airline Condor plans to cut between 650 and 1,000 jobs due to internal restructuring. Condor's CEO, explained that the company might need to downsize 15 to 25% of all jobs, as the negative impact of the COVID-19 on air travel will probably last until 2024. Even the €550 million worth loan by the German government will not prevent job cuts.

There is no information available on the timeframe and the location of job cuts.

Condor has approximately 4,000 employees in Germany.


Sources

Citation

Eurofound (2020), Condor, Internal restructuring in Germany, factsheet number 101203, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/101203.