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.
As announced on 26 June 2020, Germany’s Flughafen Hamburg (Hamburg airport) will be cutting 200 jobs by 2023 due to internal restructuring. The executive director of Hamburg Flughafen is expecting financially hard times for the airport, with €100 million in losses. Passenger volume is expected to be 9 million lower than in 2019. A return to normal pre-COVID levels of activity for the aviation sector can be projected for 2025 according to the announcement. The job reduction will be achieved without recourse to compulsory redundancies.
Flughafen Hamburg has 2,000 employees.
Eurofound (2020), Flughafen Hamburg, Internal restructuring in Germany, factsheet number 101207, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/101207.