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.
Scandic Hotels plans to cut 250 jobs due to low accommodation demand associated with the Corona crisis. The hotel chain has 27 hotels in Denmark and accounts for lower business activity in the near future due to the Corona pandemic. The hotel chain has been able to send home 900 employees with state funded compensation during the crisis and was hoping that accommodation demand would increase with time. However, the business has not recovered to normal level, thus the company plans to dismiss 250 employees. The company has begun negotiations with shop stewards in order to implement the planned redundancies.
Update 02.09.2020: Scandic Hotels have brought the number of compulsory dismissals down to 170. After constructive negotiations with trade unions, the company decided to spare 80 positions. Employees, however, will have to face reductions in working time and sharing of jobs. The Hotel Chain hopes to rehire staff when the crisis blows over.
Eurofound (2020), Scandic Hotel, Internal restructuring in Denmark, factsheet number 101543, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/101543.