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 hotel group Sacher has dismissed 140 employees, 105 in Vienna and 35 in Salzburg. The rest of the staff is still on short term work. The company expects this year's turnover to reach only around 25% of the previous year. Like the rest of the tourism, hotels have been heavily affected by the COVID-19 health crisis. The minister for finance has invited the CEO and EU representatives to argue for further subsidies. The minister wants to allow for another grant for overhead costs, yet the implementation remains in need of approval by the European Commission.
Eurofound (2020), Sacher, Internal restructuring in Austria, factsheet number 101828, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/101828.